Corporate Bits | Guangzhou auto looks to enhance China tie-up with Fiat

Guangzhou Automobile President Feng Xingya

Guangzhou Automobile Group Co. is in talks with Fiat Chrysler Automobiles NV to deepen their tie-up in China, as the world’s largest car market looks to relax some regulations and the Chinese maker prepares to sell its own Trumpchi brand in the U.S.

Models, production and sales are at the core of the discussions with Fiat Chrysler, Guangzhou Automobile President Feng Xingya said yesterday. “Shareholders of both companies are exploring ways to expand the scope of cooperation.”

With China increasingly accounting for a larger share of revenue, foreign automakers are bolstering their local partnerships while mainland manufacturers explore markets abroad to become globally competitive.

“Making our company a global player is a very important breakthrough for us in our five-year plan” through 2020, Feng said.

Guangzhou Automobile makes vehicles in China under the Jeep and Fiat brands through a Fiat Chrysler joint venture, whose sales more than tripled to 146,439 units last year.

UM presents first ‘BNU chair professor of finance’

The presentation ceremony of the commemorative Professor Chair of the first “BNU Chair Professor of Finance” Prof. Jacky So was held at BNU main office yesterday, the bank announced in a statement yesterday.

Rector of The University of Macau and Vice Chair of the University of Macau Development Foundation Executive Committee Prof. Wei Zhao and BNU Chief Executive Officer Mr. Pedro Cardoso, amongst others, witnessed the handover.

BNU is under the third year donation for the commitment of MOP10.65 million in 2015 to establish an endowment fund in the University of Macau Development Foundation, with the aim of supporting both teaching and academic research of a chair professor in the Faculty of Business Administration.

In appreciation of this contribution, the university has created its first named chair professorship in honour of BNU.

BNU has been supporting the educational system in Macau, including a donation of retail spending percentage of the universities’ BNU affinity credit cards for education and research purposes.