IN BRIEF (Page 13)

Ford to build $350m plant

Ford Motor Co said its China passenger car venture will invest $350 million to build its first transmission plant in the Asian nation, according to an e-mailed statement from the automaker on Thursday.

The plant, in China's southwestern city of Chongqing, will have an initial production capacity of 400,000 units per year, the statement said. The factory will start production in the fourth quarter of 2013.

New machinery for auto sector

A fully automated tandem line developed by a Chinese machinery company was accredited by the central government on Wednesday. The byproduct of the development is expected to bite into the shares of foreign makers in the fight for market share in sectors such as the automotive.

Yu Chengting, honorary chairman of China Machine Tool Association and head of the appraisal panel, said the tandem line is able to draw 15 auto body panels a minute, representing the highest level of capability in the field at the domestic market.

Outsourcing conference

The Fourth China International Service Outsourcing Cooperation Conference will be held in Nanjing, Jiangsu province, from June 8 to 10, China Council for the Promotion of International Trade (CCPIT) said in Beijing on Wednesday.

The service outsourcing industry is one of China's fastest-growing industries, fueled by the country's economic restructuring. The outsourcing contracts generated in China was valued $14.5 billion last year, a 43 percent year-on-year growth.

Commodities centers set up

China Pan-Asia Commodities Trading Center and Pan-Asia Steel Exchanges were established by the city of Kunming on Wednesday.

The trading centers were formed to utilize Yunnan's natural resources and to take advantage of its proximity to the Association of Southeast Asia Nations.

China Daily-Agencies

(China Daily 05/20/2011 page13)