Economy
NDRC 'positive' on approving Geely purchase
By Qin Jize (chinadaily.com.cn)
Updated: 2010-04-10 16:11
 |
Large Medium Small |
Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission (NDRC), said the Chinese Government is optimistic about approving Geely's purchase of the Swedish brand Volvo Cars.
"We will take an affirmative attitude towards the deal if the enterprise would offer a reasonable proposal on the preparation work," he said Saturday while addressing a panel discussion at the Boao Forum for Asia.
The landmark $1.8 billion deal was reached last month. An update on the sale is necessary for Geely to apply for government approval.
