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March 21, 2003

CHINA: BMW chairman says joint venture with private firm will make progress easier

China’s Business Daily Update says that BMW chairman Helmut Panke expects its 450 million euro joint venture in China to find progress easier than those formed by other European and Japanese competitors because its local partner is a private company and not state-owned.

By bcusack

China’s Business Daily Update says that BMW chairman Helmut Panke expects its 450 million euro joint venture in China to find progress easier than those formed by other European and Japanese competitors because its local partner is a private company and not state-owned.

Panke also said he expects the quality of cars made by the joint venture with Brilliance China Automotive Holdings will match that of any BMW-made car.

“We are not cooperating with a state conglomerate but with a private company,” Panke said, adding that European and Japanese competitors have had problems in China not only because their partners are state-owned companies but because they are also competitors in the domestic market.

BMW announced earlier it had received Chinese government approval for the 50-50 joint venture, which is a production and distribution project in Shenyang, the report noted.

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