GM restructuring to have no impact on GM China

Even while General Motors slashes factories, jobs, dealers, brands and products as it tries to avert bankruptcy, the automaker said its business in China will not be affected by its restructuring plan in the U.S.

The automaker reiterated the importance of the Chinese market in its global strategy and said business and key projects in China will proceed as scheduled.

"With expanding vehicle sales in China, GM remains profitable, which helps us to support the development of new programs and business with self-funded capital," GM China said in a statement.

The company issued the comment after earlier media reports said GM would sell stakes in its major Chinese passenger-car ventures with Shanghai Auto to ease its liquidity crunch.

GM said five new models will be launched under its Chevrolet and Buick brands in China within two years. By the end of this year, more than 13 new models will have been introduced, including the new Buick Regal and Chevrolet Cruze sedans. The product upgrades will also cover other brands including Cadillac, Opel, Saab and Wuling, GM's mini-vehicle affiliate.

GM also said construction of its $292 million tech center and the $250 million GM Campus, which will house its China and Asia Pacific headquarters, will proceed as scheduled.

Although sales have cooled in recent months, China's auto market — unlike many others overseas — has not plunged. In fact, it has been one of the few markets to help GM battle against a global sales slump.

GM said it sold 111,282 units in China in January, a rise of 3.3 percent. Last year, its sales expanded by 6 percent in China, the slowest pace since 2000. China is still the brightest star in GM's universe.