General Motors (NYSE:GM) Riding into "Crown Jewel" - China

China will continue to be the major growth area for companies over the next several decades, and General Motors (NYSE:GM) went so far as to call China its crown jewel.

GM Chief Executive Officer Daniel Akerson said, "China is clearly a crown jewel in the GM universe. China is a unique market sitting in what I think is the highest growth area in the world for the next 10, 20, 30 years."

In a bid to win back the billing as the world top automaker, which they lost to Toyota Motor Corp. (NYSE:TM) several years ago, General Motors said they're going to offer over 20 new or upgraded models in China.

No specifics as to what models GM would introduce in China were given.

GM is also attempting to overcome the stain of bankruptcy and needing a handout from American taxpayers in order to survive.

GM was trading at $35.90, down $0.39, or 1.07 percent, as of 11:50 AM EST.