China’s Jiangling Motors said today that its net profit surged 85% year-on-year in the first six months of 2002 mainly due to rising sales of its minivan and light trucks, Reuters reported.

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Net earnings rose to 130 million yuan ($US15.71 million) also due to lower costs and financial expenses, Jiangling said in its interim results report published in the Securities Times, according to Reuters.

Ford has a 29.96% stake in Jiangling, which has hard currency B shares available to foreigners, and Chinese-only domestic A shares listed on the Shenzhen stock exchange, Reuters said.

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