Tengzhong hasn't applied to buy Hummer yet

Shanghai, July 3 (Gasgoo.com) China's Ministry of Commerce hasn't received an application from Sichuan Tengzhong Heavy Industrial Machinery Co. regarding its planned purchase of General Motors Corp.'s Hummer division, Vice Commerce Minister Chen Jian said yesterday, media reported.

Chen said on the sidelines of a news conference that the ministry will consider Tengzhong's capabilities when making a decision on the purchase. China continued to support domestic companies with ambitions to invest overseas, but said many Chinese firms still lacked the experience operating in foreign markets, he said.

As a little-known Chinese machinery maker, Tengzhong raised eyebrows in early June when it unveiled a tentative plan to take over Hummer from General Motors. Doubts about whether the deal would get regulatory approval have been swirling as many believe Tengzhong lacks the experience and expertise in auto-making.

"The Ministry of Commerce's attitude is that it is the company's own business, and we would mainly look at whether you have the ability," said Chen, who emphasized that his ministry had not yet received any application from Tengzhong for the planned acquisition.