Beijing Automotive Industry Holding Co. paid Saab a reported 1.4 billion Swedish crowns (£120 million) for the rights to the 9-3 and old 9-5.
Dagens Industri, a Swedish business daily, quoted an unamed source revealing the amount paid and claiming the money was already in Saab's bank account by the end of last week.
"The purchase price is 1.4 billion crowns and the money was in Saab's account already on Friday," said the source.
General Motors is still keen to finalise a deal to sell the rest of Saab by the end of the year and Dutch sports car firm Spyker is the favourite to complete a deal. A Saab spokesman told Automotive News that the money from the BAIC sale would help keep the company afloat while a buyer for the rest of the company was sought.
"The money [from the deal] will finance the new Saab and contribute to a good start under new ownership," said the spokesman. "We're confident that a deal will get done."