China's trade protectionism and currency risks

Geely Automobile Holdings if china, painstaking a potential purchaser of possessions from stressed worldwide auto giants, thought foreign acquisitions would let it to safe technology and new markets but it leftovers watchful about probable deals.

In a declaration on its website clearing up its views on abroad acquisitions, issued in reply to sensitive media concern on the topic, the automaker also supposed such acquisitions could assist it to keep away from trade protectionism and currency risks as it could be a critical point to the Forex market.

Other than a Geely presenter said on Saturday so as to the declaration, posted on the company's website on some days ago, did not point to a modify in the company's cautious position.

Earlier in this month, sources well-known with the circumstances told that Dongfeng and Geely Motor Group were amid potential bidders that had spoken their interest in GM’s Saab brand.

According to some media reports they have in addition mentioned Geely, Dongfeng and Chongqing Changan Automobile Company as good bidders for a motor company Ford’s Volvo car unit.

A superior management person from Geely told in the early days of this month that his corporation had not held meetings about a probable acquisition of Saab or other overseas brands and that it was not paying attention in them.

Chinese management officials and corporation executives have too cleared a note of watchfulness in the direction of out of the country acquisitions, particularly given the household industry's comparatively short past and are short of of expertise in foreign markets.

Geely is trying to quake off its icon as a supplier of low cost cars, is one of more than a few determined Chinese automakers enthusiastic to enlarge into urbanized markets.