GM CEO: China will continue to be GM's key partner of business

GM CEO Fritz Henderson said China will continue to be a key partner of business of GM. Henderson said that GM's venture in China is a critical part of GM, saying its business in China in "growing very fast." "Our business in China continues to grow very fast, I should say at torrid pace,and we are very appreciable of that." The business is also "highly successful" and "profitable" with its partner the SAIC (Shanghai Auto Industry Corporation) (SAIC), he said. "SAIC remains a critical partner of General Motors going forward." "I would say already our business in China is one of our critical part being successful as a global automaker.We had a good start." "We are very interested and excited about the next five years." GM bankruptcy filing to have no impact on China business "Our operations across China will operate normally," said Kevin Wale, president and managing director of GM China Group. "Our customers will continue to receive top-notch service and warranty coverage, while our dealers will continue to receive product and after-sales parts as usual." "There will be no impact on payments to employees, dealers or suppliers contracted to GM China or to our joint ventures." "GM has a specific development plan in China for the next five years that demonstrates our great confidence in the country." "China has been the largest vehicle market in the world in the first five months of 2009. Industry sales grew 18.8 percent from the same period last year." "Domestic sales by GM China and our joint ventures continue to be strong, rising 33.8 percent year on year in the first five months. We intend to remain an industry leader in China."

Shanghai GM: GM's bankruptcy filing no substantial impact on Shanghai JV