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GM has ambitious goals in China

SHANGHAI - General Motors expects to double its sales in China to 60,000 this year and expand its vehicle financing service in the world's most populous country, Chairman Jack Smith said.

GM builds four mid-sized sedans, a wagon and a compact car in a joint-venture plant in Shanghai and builds sport-utilities in another joint venture in Shenyang.

Smith, speaking at the Asia Pacific Economic Cooperation CEO Summit here Friday, Oct. 19, said in a Bloomberg News Service report that China has the potential to become the world's largest vehicle market.

GM recently opened an office for its GMAC finance unit, and Smith said China's entry into the World Trade Organization would ease the way for GMAC to finance vehicles in China.

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