Chery Auto, Chrysler in venture talks

CHERY Automobile Co., the largest privately owned carmaker in China, said yesterday it was talking to Chrysler about setting up an automaking venture to tap demand in the world’s second-biggest vehicle market.

“Chrysler wants to deepen our current cooperation,’’ Jin Yibo, Chery’s spokesman, said. “Our options include setting up a venture.’’ He declined to elaborate.

PetroChina raises diesel purchases

PETROCHINA International Co. bought 300,000 metric tons of diesel for delivery in May, 50 percent more than a month earlier, said a company official yesterday.

The firm, also known as China National United Oil Corp., is a trading unit of PetroChina Co., the nation’s biggest oil producer.

South Korea to impose glass dumping tariff

SOUTH Korea will impose punitive tariffs of as much as 36 percent on Chinese-made construction glass to protect domestic producers from cheaper imports.

Qinhuangdao Yaohua Glass Co. and other Chinese producers of glass used in buildings would pay duties ranging from 12.7 percent to 36 percent until Oct. 28, 2010, South Korea’s Ministry of Strategy and Finance said in a statement yesterday.