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( China Daily ) Updated: 2013-03-20 07:30:51

Volvo Cars 'win approval to produce autos in China'

Volvo Cars, the Swedish carmaker owned by Zhejiang Geely Holding Group Co, has won the approval of China's top economic planning agency to begin making vehicles in the country, three people familiar with the matter said. The National Development and Reform Commission recently authorized Volvo's production plan, the people said, asking not to be named because the process is confidential. The State Council, has to give final approval, though the chances of rejection are negligible, said one of the people.

Ex-finance minister to chair Social Security Fund

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