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GOTEBORG, Sweden, March 28 (Xinhua) -- China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. here Sunday to acquire the U.S. auto giant's Volvo car unit.Under the definitive stock purchase deal, Geely will own 100 percent of Volvo Cars and its related assets.The agreement was inked by Li Shufu, founder and chairman of Geely, and Lewis Booth, chief financial officer of Ford, at a ceremony at the headquarters of Volvo in Goteborg, the second largest city of Sweden. Geely Chairman Li Shufu attends a press conference after the signing ceremony in Goteborg of Sweden, March 28, 2010. China's Zhejiang Geely Holding Group signed a deal with Ford Motor Co. here on Sunday on the takeover of Sweden's Volvo Cars.The ceremony was witnessed by Li Yizhong, China's minister of industry and information technology, and Maud Olofsson, Swedish deputy prime minister and minister for enterprise and energy.The agreement provides a solid foundation for Volvo to continue to build its business under Geely's ownership, said Booth at the ceremony."China, the largest car market in the world, will become Volvo's second home market. Volvo will be uniquely-positioned as a world-leading premium brand, tapping into the opportunities in the fast-growing China market," said Li.Geely has secured all necessary financing to complete the transaction, he said, adding that Geely intends to preserve Volvo Cars'existing manufacturing facilities in Sweden and Belgium, and explore opportunities to manufacture Volvo vehicles in China for the local market. Geely Chairman Li Shufu (FRONT L) shakes hands with CFO of Ford Motor Company, Lewis Booth (FRONT R) after signing a deal in Goteborg of Sweden, March 28, 2010. China's Zhejiang Geely Holding Group signed a deal with Ford Motor Co. here on Sunday on the takeover of Sweden's Volvo Cars.Li promised that Geely will maintain the strong collaborative relations that Volvo has built with employees, unions, suppliers, dealers and above all, customers.Volvo Cars will eventually become a separate company with its own management team based in Goteborg and a new board of directors, he told reporters after the ceremony.Volvo, which has about 22,000 workers around the world including 16,000 in Sweden, was purchased by Ford in 1999 for about 6.4 billion dollars.But Ford has been attempting to sell Volvo since late 2008, due to its poor market performance. Geely was named as the preferred bidder for the Swedish subsidiary in October 2009.Geely, which started to manufacture cars in 1998, is a major private automaker in China, with its headquarters based in southeast China's Zhejiang province. Geely Holding Group is the parent company of Geely Automobile Holdings.Besides Ford, some other Western auto giants are also seeking buyers in China. Beijing Automotive Industry Holdings has agreed to buy some powertrain technology from General Motors Co.'s Swedish Saab unit. 

BEIJING, April 1 (Xinhua) -- China's average daily stock trading volume at the Shanghai Stock Exchange shrank 35.2 percent month on month to 96.85 billion yuan (14.2 billion U.S. dollars) in February, the People's Bank of China (PBOC) said Thursday.China's stock market was closed from Feb. 13 to 19, for the Spring Festival, the most important Chinese traditional holiday.Analysts held that trading was normally bleak in the Spring Festival month, as some investors preferred to cash in profits before going back to hometowns for family gatherings and some were cautious before the release of new economic data after the holiday.The Spring Festival fell in January last year. The daily average stock turnover was down 3.38 billion yuan to 65.4 billion yuan in January 2009 compared with December 2008, according to the PBOC.The benchmark Shanghai Composite Index edged up 110.58 points from Feb. 1 to 3,051.94 points on Feb. 26 this year, the last trading day in the month, the central bank said in a financial market report released Thursday on its official website.China's financial market kept its smooth run in January and February, said the PBOC.The Shanghai Composite Index gained 1.23 percent, or 38.32 points, to end at 3,147.42 points Thursday. The turnover at the Shanghai Stock Exchange was 154 billion yuan, showing investors' heartened confidence in economic recovery.Thursday's official figures revealed that the Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 55.1 percent in March, up 3.1 percentage points from February, the 13th straight month that the index was above 50 percent.

BEIJING, May 12 (Xinhua) -- The United States wants to work with China to expand the global economy and promote the development of the green economy, said a U.S. Commerce Department official Wednesday in Beijing.Cameron Kerry, General Counsel of the U.S. Department of Commerce, said at a news briefing at the U.S. embassy that the two countries faced an important time in their relations."My visit here this week is an appetizer in the banquet of events between the U.S. and China."According to U.S. Commerce Department, Commerce Secretary Gary Locke will lead the first cabinet-level trade delegation to China next week to promote exports of leading technologies as part of President Barack Obama's state export plan to increase U.S. employment.The department said the mission was intended to promote exports of leading U.S. technologies related to clean energy, energy efficiency, and electric energy storage, transmission and distribution.The two sides would also exchange views on issues such as trade and the investment environment, innovation and the protection and enforcement of intellectual property rights, said Kerry.Locke will also attend the economic track dialogue of the second round of Sino-U.S. strategic and economic dialogue in Beijing in late May.Twenty-four U.S. companies will join Locke for the China leg of the trade mission. The delegation will stop in Hong Kong, Shanghai, Beijing, and Jakarta.

JI'NAN, March 31(Xinhua) -- A senior Chinese legislator has called for greater efforts to promote women's awareness and ability to safeguard their legitimate rights and interests.Chen Zhili, vice chairwoman of the Standing Committee of the National People's Congress, China's top legislature, made the remarks during a week-long inspection tour of the eastern Shandong Province ending Wednesday.Chen was sent by the top legislature to inspect how local law enforcement agencies implemented the Law on the Protection of the Rights and Interests of Women.The law, which took effect on Dec. 1, 2005, had played an important role in protecting women's legitimate rights, raising their social status and mobilized them in the country's modernization drive in an active and innovative manner, she said.She called for more efforts to publicize the law to make people aware of the law's significance in protecting women's rights.Chen, also chairwoman of the All-China Women's Federation, said Chinese women faced challenges such as discrimination and a lack of labor rights.

BEIJING, May 23 (Xinhua) -- Chinese Premier Wen Jiabao has called on authorities to ensure earthquake survivors in Qinghai Province receive adequate food and financial assistance to maintain their livelihoods. Rebuilding projects should be finished within three years, with a priority on residential buildings and public facilities such as schools and hospitals, Wen said.Wen made the call in a speech, which was published Sunday by the State Council General Office, at a meeting to discuss relief work on May 1 during his second visit to the quake zone in Yushu prefecture.Wen said supplies of food, cooking oil, vegetables, fuel and relief allowances should be provided to ensure living standards, and schools should resume as soon as possible in tents or temporary buildings.Debris should be cleared quickly, and the disposal of garbage, human waste and livestock carcases must be properly carried out, Wen said.Adequate disinfectant chemicals and equipment should be prepared, and authorities should be alert for outbreaks of disease, Wen said.Damaged roads and bridges should be repaired and airport operations should be guaranteed to maintain efficient transport. Water and power supplies should also be restored rapidly, Wen said.Agricultural production should be restored, and the government must help farmers buy seed and fertilizers. Markets should be rebuilt and goods supplies and prices stabilized, Wen said.Psychological assistance should be provided to people suffering from trauma problems.Reconstruction planning should be scientifically evaluated on the basis of the surveys of the area's geological, hydrological and ecological conditions, and reconstruction sites should avoid earthquake fault lines, Wen said.He urged authorities to take into consideration the environment, economic and social development, poverty alleviation and livelihood promotion in the reconstruction.The work should also be carried out with concern for the prefecture's distinctive ethnic characteristics and geological conditions.Wen stressed in particular the protection of Tibetan culture during reconstruction work, and he promised the government would support the repair of damaged temples and protect key cultural relics.Because Yushu's ecosystem is fragile and sensitive to human activities, rebuilding work must be environmentally friendly, with a high recycling rate of building materials, he said.The reconstruction fund would be provided by the central government and supported by public donations. Favorable taxation, employment, finance and land use policies would also be enacted, Wen said.The premier praised ethnic and religious groups who had played important role in relief work. He said efforts should be intensified to maintain ethnic unity and avoid disputes.He also urged local authorities to care for the relief workers, and guarantee their basic working and living conditions.Wen first visited Yushu on April 15, the day after the 7.1-magnitude earthquake, which killed at least 2,200 people and left more than 100,000 homeless.

来源：资阳报