General Motors to Move Asian Headquarters to China
Topics: General Motors
June 28, 2004
General Motors says it is moving its Asia-Pacific headquarters from Singapore to strengthen its presence in China, the world's fastest-growing automobile market. GM will also put $250 million into a testing center, part of $3 billion it plans to invest in China with its joint venture partners.
The move reflects the growing importance of the China market, where GM's sales grew nearly 70 percent in the first quarter of this year.
This article is an excerpt from an Asian business report by the same name.