SAIC posts rise in H1 net profit

SAIC Motor Corp, China's largest automaker, posted a 6 percent rise in first-half net profit, boosted by strong sales at its joint ventures with General Motors Co and Volkswagen AG.

SAIC made a net profit of 11.5 billion yuan ($1.88 billion) during the January-June period, compared with 10.78 billion yuan a year earlier, the Shanghai-based automaker said in an exchange filing on Thursday.

SAIC sold 2.6 million vehicles during the first half, up 15 percent from the same period last year, outpacing industry growth of 12 percent.

SAIC partners with General Motors and Volkswagen to sell cars, mini-vehicles and vans in China, the world's biggest automobile market.