GM Tops China Car Sales List
Shanghai GM's passenger car sales jumped 22 per cent to 500,308 in China during 2007, topping China's auto sales ranking for the third year running, China Auto News reports. The joint venture company between Shanghai Automotive Industry Corp and General Motors sold 160,500 Chevrolets and 332,000 Buicks last year. Sales of its Cadillac and Saab sedans rose 149 per cent and 87 per cent respectively, to 7,040 and 618.
RMB Hits 7.2775 to The Dollar
China's currency started 2008 with a strong rise against the U.S.
dollar, as the central bank set the medium price at 7.2775 against the greenback. The RMB gained 0.37 per cent by noon on Thursday against the
Wednesday close, according to the China Foreign Exchange Trade System in Shanghai. The RMB rose 0.9 per cent against the dollar during
the last week of 2007, more than in any single week since China unpegged its currency on 21 July 2005.
Shanghai Port Claims Top Ranking
The cargo throughput of Shanghai port reached 560 million tonnes in
2007, ranking first in the world for the third year in a row, according to the Shanghai Port and Shipping Bureau. The cargo volume
grew by 4.2 per cent compared to 2006, with the throughput of TEUs (twenty-foot container equivalent units) increasing by 20.4 per cent to
reach 26.15 million. The cargo throughput of Shanghai port reached 443 million tonnes in 2005, surpassing the Port of Singapore to become
the largest in terms of cargo throughput, though it does not rank number one in terms of container volume.
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