Doing Business in China

July 7,an U.S. Bankruptcy Judge has approved the sale of GM's assets to New GM owned by the U.S. government.GM China is still under new GM.Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York in Manhattan said the sale was GM's only option and that completing it would 'prevent the death of the patient on the operating table.'

The new company's most profitable assets will consist of four brands — Chevrolet, Cadillac, GMC, Buick and GM subsidiaries outside the United States, including its operations in China and the rest of Asia Pacific, which are expected to continue to operate without interruption.

"The launch of the new GM will have a positive impact on GM's operations across China," said GM China Group President and Managing Director Kevin Wale. "It will enable us to continue to take advantage of our company’s global resources through the introduction of exciting new products and the expansion of our presence in this important market."