Daimler Benz says its strategy in China concentrates on winning large industrial projects in its own right and gaining contracts in partnership with other large firms.
It said its ambition, stated two years ago, to become the first foreign company to list in Shanghai was no longer top priority.
Manfred Bischoff, the group's chief executive officer, made the comments yesterday following China's decision to award a two billion deutschemark (about HK$10.32 billion) contract for the supply of A-320 aircraft to Airbus, which is 37.9 per cent owned by Dasa, its aerospace subsidiary.
The president of Mercedes Benz, Helmut Werner, said following the group's success recently in winning the US$1 billion Hainan engine and light truck joint venture that the group was concentrating on development of sales operations on the mainland.
However, Mr Werner said the highly sought-after contract for China's affordable family car project was still some way from being announced.
'There will be no decision by 2000. This is not our intention, but it is something the Chinese have told us,' he said.
