Problem with Volvo Manufacturing in China, the world ’ s fastest growing market, is every carmaker ’ s dream. But making the dream come true is not easy, as Chinese-owned Volvo Cars has discovered. When Volvo decided to build a car manufacturing factory in China, they found that, under the Chinese regulations, they co u ld not do this unless the company was jointly owned by a Chinese company. Now more than seven years have passed since Geely paid $1.8 billion for the Swedish company. Last year Volvo sold more than 1000,000 cars in China, 24% more than the year before. Volvo is building new factories in Chengdu in the south-western Sichuan Province, near where all these beautiful toys are made by Apple, and in Daqin in Heilongjiang Province up north close to the Russian border. Volvo is planning to launch more than one new model per year on average in China, between now and 2020.