A. compared to the billions of dollars that represents GM's annual budget $293million is small change
B. China is GM's fastest growing market (38% per year)
C. As Toyota has done for years the profits will come back to GM right here in the good old USA which means that the Chinese consumer will help in paying off GM's debts to the US government.
Sounds like good sound business practice to me.
By the way the source of the financing isn't spelled out I would not be at all surprised if the Chinese government didn't loan the cash to GM for it to invest.
