Shanghai Auto Corp not planning list in HK or buy Chrysler - Xinhua.

(From AFX Europe (Focus))

BEIJING (XFN-ASIA) - Shanghai Automotive Industry Corp (SAIC), the parent of Shanghai Automotive Co Ltd (SHA 600104), currently has no plans to list in Hong Kong or purchase Detroit-based Chrysler, the official Xinhua news agency reported.

Xinhua cited SAIC vice chairman Chen Hong as saying that the company's priority is to increase its share of the domestic market and strengthen the management of listed Shanghai Auto.

SAIC sold 1.34 mln automobiles in 2006, up 27 pct year-on-year, Chen …