China Knowledge reported that US based financial holding company JPMorgan Chase & Co recently increased H shareholding in Guangzhou Automobile Group Co Ltd to 7% from the previous 6.36%.

According to statistics released by the Hong Kong Stock Exchange on November 30th, the US firm bought approximately 14.34 million H shares of Guangzhou Automobile for around HKD 150 million. The average price of the share transaction was HKD 10.49 apiece.

The Chinese automaker and Japan Mitsubishi Motors on November 6th signed a memorandum of understanding to set up 50:50 joint ventures at the middle of 2011 and the JV's annual output capacity is expected to reach 250,000 units in five years since July 2012.
Guangzhou Automobile and Mitsubishi Motors hold a 14.59% stake and a 29% stake in GAC Changfeng Motors Co Ltd respectively and the Shanghai listed firm will provide supports to establish the JV.

(Sourced from China Knowledge)