Government likely to block Hummer purchase

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    clpstaff &clp articles

    Veto will lead to caution over outbound investments

    The government is likely to veto the purchase of Hummer from General Motors by Sichuan Tengzhong Heavy Industrial Machinery.

    It was reported on Friday that the National Development and Reform Commission (NDRC), one of the bodies responsible for approving overseas acquisitions by Chinese companies, will reject the deal on the grounds that Tengzhong does not have enough experience in building cars.

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