MOTORING ALONG REFINANCING BLUES SOHU PROFITS DIP General Motors reports Banks in China come under Website sees earnings drop record monthly sales pressure to refi nance after advertising sales slow business> PAGE 15 > PAGE 14 > PAGE 16 CHINA DAILY CHINADAILY.COM.CN/BUSINESS TUESDAY, AUGUST 7, 2012 | PAGE 13 TRMB THKD TJPY SEUR SSGBP SSAUD INR SCAD KRW STHB SBRL ONEU$DEQUALS 6.3738 7.7547 78.33 0.8087 0.6423 0.9482 55.46 1.0007 1128.38 31.47 2.0288 SOURCE: REUTERS, 9PM MONDAY Warning issued about high debt Cash-rich Chinese Experts say fi rms urged to new stimulus policies could take acquisition add to fi rms’ fi nancial burden trail to Japan By WEI TIAN By DING QINGFEN In 2011, Haier and the Japa-
[email protected] in Yokohama, Japan nese electronics company San-
[email protected] yo signed a memorandum of China’s corporate debt ratios understanding about Haier’s have reached “dangerous” lev- It’s been fi ve years since Haier, acquisition of Sanyo’s refrigera- els, according to leading econ- the giant Chinese home appli- tor, washing machine and other omists. ance manufacturer, transferred electrical appliance businesses Li Yang, vice-president its Asia-Pacifi c headquarters to in Japan and some Southeast of the Chinese Academy of Tokyo — and it’s one of the best Asian nations. Social Sciences, a top gov- decisions the company has ever Haier has two research cen- ernment think tank, made, according to its Vice- ters and four manufacturing DEBT has warned that fur- President Du bases in Asia, and targets sales ther stimulus policies Jingguo.