Indonesia’s August import figures lower by 23%

The Chongqing Yinxiang Group and the Beijing Automotive Industry Holding Co., (BAIC) inked a strategic cooperation agreement, under which the two sides would invest 1.5 billion yuan (US$221.46 million) to construct a new mini-van base in southwest China’s Chongqing municipality. The mini-van base, covering an area of more than 1,000 mu (about 66.7 ha), is to start construction by the end of this year and start production in 2012. Upon completion, the mini-van base, which will be dedicated to the production of mini-vans and engines, is expected to produce 300,000 units annually. (August 4, 2010)