Haier Group Corp is considering buying General Electric Co's consumer-appliance unit, the Economic Observer reported, citing an unidentified official with Haier.

Haier has held talks with China Development Bank on financing the bid which could cost between 4 billion U.S. dollars and 8 billion U.S. dollars, the Beijing-based newspaper said in a report last Saturday. The Qingdao-based company hasn't yet made contact with GE about a possible purchase of the unit which makes refrigerators, ovens and dishwashers, the weekly newspaper said.

(Xinhua News Agency May 27, 2008)