Almost two months ago, few people in China's automotive industry had heard of Sichuan Tengzhong. Today the company is recognized across not only China's automotive industry, but the global automotive industry as well. That's a phenomenal accomplishment for a company that has never built passenger car.

Sichuan Tengzhong captured the world's interest when it announced on June 2 its plan to purchase the Hummer brand from bankrupt General Motors Corp. Since then, government officials, industry executives and automotive analysts alike have scrambled to learn more about the acquiring company, and to understand the implications of the company's plans.

For all the prominence Tengzhong gained from the announcement, the acquisition of Hummer is not a significant development for China or China's automotive industry.