Geely says its Jan-Feb sales in China up 20% y/y

Geely Automobile Holdings Ltd. Chairman Li Shufu said Tuesday the company's sales in China for January and February rose about 20% from a year earlier.

Li, who was speaking on the sidelines of the annual meeting of China's legislature, also said the global financial crisis has affected exports.

Echoing comments he made last week, Li said "the financial crisis presents challenges and opportunities," but he didn't say whether Geely has any acquisition plans.

The Wall Street Journal reported last week that Geely, one of China's biggest privately owned auto makers, is likely to submit a bid this month to acquire Ford Motor Co.'s Volvo brand. People familiar with the situation have said in recent days that plan remains on track.