The sale would be part of a long time cooperative venture.
Quoting from www.just-auto.com, Nov. 11, 2010:
The potential investment in GM by China's top automaker would expand their 13 year joint-venture in China, and their newly established relationship in India, to a broader global stage.
See last item, below, on the International unit.

Allied news:
GM is set to price its roughly US$13 billion IPO on 17 November and start trading the next day. The US Treasury, which owns 61% of GM's common stock as a result of its US $50 billion US taxpayer-funded bailout, is expected to cut its stake to slightly more than 40% in the IPO.

This last quarter, GM posted a US$2 billion profit, or $1.20 a share, after adjusting for a 3-for-1 stock split.

The International unit, which includes China and India, earned US$646 million in the quarter.
GM sells more cars in China than the US.
http://moneywatch.bnet.com

[A joint venture with the Chinese partner expects to market an electric car soon].