Honda's China Sales Up in August
Some good news for Honda, as its two joint ventures in China posted high sales in August. Units sold at Guangzhou Honda Automobile Co. rose 21 per cent while the venture with Dongfeng Motor Group reported a 16 per cent increase. The Accord model and the CR-V sport-utility vehicle have recorded double digit growth rates, while other types saw their sales slump. Honda sold 309,561 units from January to August of this year.
MadeInChina Closes Guangzhou Office
MadeInChina.com, one of the country's largest online trading companies,
has closed its Guangzhou office. CEO Zheng Min said "sales in the
second and third quarters experienced unexpected declines" because of
less demand in foreign trade. The Guangzhou office was opened just four
months ago. As reported earlier, tens of thousands of Chinese companies
had to close down in recent last months due to the decline in trade,
visa issuing restrictions and the appreciating RMB.
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