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Premium car brands eye China's secondhand market

By Edward Taylor and Jan Schwartz BEIJING (Reuters) - Strong demand for new automobiles in China has laid the foundations for the next leg of business for carmakers BMW <BMWG.DE>, Audi and Mercedes-Benz: the second-hand premium car market. China's auto market is the world's biggest and is set to grow between 8 percent and 10 percent this year, fuelled by increasingly affluent buyers, who use them for the daily commute, with some opting for luxury brands as a status symbol.

Toyota Motor aims to double sales in China to 2 million vehicles in future

BEIJING (Reuters) - Toyota <7203.T> aims to double auto sales in China to around 2 million vehicles a year in the future, a senior executive said on Sunday, as the top global car maker plays catchup to rivals, such as Volkswagen <VOWG_p.DE>, in the world's largest auto market. Toyota Motor Corp's Executive Vice President Yasumori Ihara, who made the comments during a news conference at the Beijing auto show, did not give a specific time frame for the target.

Fiat-Chrysler to produce iconic Jeep in China from 2015

Automaker Fiat-Chrysler said on Saturday that it would begin producing the iconic American brand Jeep in China from 2015 to meet demand in the world's largest car market. Fiat-Chrysler -- created by Italy's Fiat acquiring Chrysler of the United States -- will produce three Jeep sport utility vehicle (SUV) models in China, including one specifically designed for the Chinese market, the company said in a statement. The announcement came ahead of the Beijing auto show, which opens to the public on Monday, as global automakers flock to China to show off their latest models.

Audi expects to sell half million cars in China this year

By Norihiko Shirouzu BEIJING (Reuters) - Volkswagen's <VOWG_p.DE> luxury division Audi plans to sell about half a million cars this year in China, the world's biggest auto market, and raise the number of its Chinese dealers to 500 by 2017. The German automaker hopes its car sales will exceed 500,000 this year, executives told reporters on Friday before the Beijing auto show, which opens on Sunday.

Hyundai Motor kicks off grassland development project in China

SEOUL, April 16 (Yonhap) -- Hyundai Motor Co., South Korea's No. 1 carmaker, said Wednesday that it will kick off a massive grassland development project in China as part of its effort to preserve the environment and reduce the frequency of sand storms that periodically blow into South Korea. The company, which sold 440,150 vehicles in China in the first quarter of this year, said the "Hyundai Green Zone" calls for the creation of pastures in an area covering 40 million square meters. The project also envisages hiring people in the region to help the local economy.

State-owned China Film invests in Hollywood movies for first time

HONG KONG - China's state-owned film distributor is making its first investment in Hollywood movies by taking a stake in two projects by production company Legendary Entertainment. The two companies said on Tuesday that China Film would make an "eight-figure equity investment" in two upcoming films, "Seventh Son" and "Warcraft." The exact amount was not specified. "Seventh Son" is a fantasy adventure starring Jeff Bridges and Julianne Moore. "Warcraft" is based on a video game.

Russia, China try to finish gas talks before Putin's visit: deputy PM

Moscow and Beijing plan to wrap up a decade of talks on supplies of Russian natural gas before President Vladimir Putin's expected to travel to China next month, a deputy prime minister said on Monday. Deputy prime minister Arkady Dvorkovich, speaking after a visit to China last week, also said Chinese companies wanted to invest in the former Ukrainian peninsula of Crimea taken over by Russia last month.

China police seize thousands of guns, knives

Police in China have seized a huge cache of weapons including 15,000 guns and 120,000 knives from an illegal arms ring and detained 15 suspects, state media reported Monday. The weapons were confiscated after a four-month investigation, according to the state-run China Daily newspaper, which called the operation the largest-ever such seizure in China. Police were tipped off to the arms ring's existence after investigating a robbery in Guiyang, the capital of southwest China's Guizhou province, the newspaper said.

Korea's investment in China falling behind Japan, may lose future market share: KITA report

SEOUL, April 13 (Yonhap) -- South Korean companies' investment in China is lagging further behind that of Japanese firms, and their areas of investment raise concerns that they will be edged out by their Japanese rivals in the consumer market, a trade report said Sunday. A report by the Beijing office of the Korea International Trade Association (KITA) showed Japanese companies invested US$52.9 billion in China over the 10-year period of 2004-2013, about 1.5 times more than the $36.15 billion by their South Korean counterparts.

End of Windows XP poses big problems for China

Beijing, Apr 9 (EFE).- Microsoft stopped offering technical updates on Wednesday for Windows XP, creating problems for users around the world and especially in China, where two of every three computers uses the popular operating system. An estimated 60 percent to 70 percent of the computers in China use Windows XP, well above the 27 percent figure for the world as a whole. Computers running on Windows XP can still be used, but Microsoft will no longer provide security patches for the software, leaving the devices vulnerable to attacks by hackers and viruses.
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