Trading in Shanghai Automotive Industry Corp (SAIC) shares on the Shanghai Stock Exchange was suspended on Thursday (3 December, 2009) because China’s biggest automaker plans a major asset restructuring.
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SAIC is the China joint venture partner of General Motors and Volkswagen. It is also involved in the production of updated former MG Rover vehicle models and powertrains in China and the UK after a government-mandated merger with Chinese automaker Nanjing.
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