Auto Magnate Continues Growth in China

General Motor, the US' largest automaker, may be on the verge of bankruptcy due to huge losses. However, GM will invest $1 billion in China a year to support its expansion.

According to GM’s statistics showed that it sold 1.1 million autos in China last year, a year-on-year increase of 6.1 percent, compared with a 22.7 percent decline in GM's home market in the US. Chinese sales accounted for 10 percent of the global total. GM said it expects vehicle sales in China to remain steady in 2009.

Auto experts predict China will remain the world's fastest-growing major market over the next decade.

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