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The Chinese domestic auto industry is booming, tempting companies to look for foreign acquisitions that would help feed the local market.

This week, China's Tengzhong announced it would buy Hummer from General Motors for a reported $150 million. At first, at least, Tengzhong will produce the cars in what were GM's U.S. plants.

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Last updated October 09 2009: 4:12 PM ET
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