GM swings to 4th quarter loss on toughening China conditions, tops expectations [Video]

General Motors swung to a loss in the fourth quarter on an increasingly difficult environment in China, but still topped profit and revenue expectations on Wall Street. The automaker is also taking a proactive approach with the United States government on regulations and doling out generous profit-sharing payouts to thousands of workers.

Last month GM cautioned that the poor performance of its Chinese joint ventures would force it to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter.

China has become an increasingly difficult market for foreign automakers, with BYD and other domestic companies raising the quality of their vehicles and reducing costs. The country has subsidized its automakers.

For the three months ended Dec. 31, GM lost $2.96 billion, or $1.64 per share. A year earlier the company earned $2.1 billion, or $1.59 per share.

Stripping out the charges and other items, GM earned $1.92 per share …