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LONDON, Aug. 2 (Xinhua) -- Chinese automaker Geely has completed the acquisition of Volvo Car Corporation from Ford in London.Geely Chairman Li Shufu and Lewis Booth, Ford's chief financial officer (CFO) attended a signing ceremony in London on Monday."This is a historic day for Geely, which is extremely proud to have acquired Volvo Cars," said Li."The signing and completion of this acquisition reflects the commitment of Ford and Volvo executives to the future of this company, along with the vital efforts of union representatives and government officials in Sweden, Belgium and China as well as other relevant countries," said Li."This famous Swedish premium brand will remain true to its core values of safety, quality, environmental care and modern Scandinavian design as it strengthens the existing European and North American markets and expands its presence in China and other emerging markets," he added.Geely named Stefan Jacoby, chief executive of Volkswagen Group of America, as president and chief executive officer of Volvo Cars.Jacoby said: "I am honored to join a company with the prestige and growth potential of Volvo. Our employees, suppliers, dealers, and above all our customers, can be confident that Volvo will preserve its special status as the industry leader in vehicle safety and innovation, even as it pursues new market opportunities."Jacoby will join the board of Volvo Cars, chaired by Geely chairman Li. The board comprises several new directors including Hans-Olov Olsson, former president and chief executive of Volvo Cars and former chief marketing officer of Ford, who will become vice chairman of the board.Hans-Oskarsson, deputy chief financial officer, will replace Stuart Rowley as the CFO of Volvo Cars. Rowley and former Volvo president and chief executive Stephen Odell are moving to leadership roles at Ford of Europe.Geely paid 1.3 billion U.S. dollars in cash plus a 200-million-dollar note, less than the price worth 1.8 billion dollars announced in March due to changes in pension obligations and working capital.Under the new ownership, Volvo Cars will keep its headquarters and manufacturing presence in Sweden and Belgium, and its board will have autonomy to execute its strategic plan. Volvo and Ford will maintain close relations in component supply.

BEIJING, Aug. 5 (Xinhua) -- China's National Meteorological Center forecast Thursday that heavy rains would continue during the next 24 hours in northeast China, a region already soaked following weeks of torrential rains.The observatory continued to issue an orange rain alert, the second most serious level, on Thursday, warning that rainstorms would hit most parts of the provinces of Liaoning, Jilin and Helongjiang over the next 24 hours, adding pressure to the country's efforts to combat floods.Rain-triggered floods have left 1,072 people dead and 619 others missing this year in China. Economic losses were estimated at 210 billion yuan (31.34 billion U.S. dollars), Shu Qingpeng, deputy director of the Office of State Flood Control and Drought Relief Headquarters, said Wednesday.Meanwhile, the observatory forecast that heat would continue in south China during the next 24 hours.Temperatures are likely to hit 35 to 38 degrees Celsius in southeast Shaanxi Province, some parts of Sichuan and Guizhou provinces and areas along the Huaihe River. Also, Hunan and Jiangxi provinces may see maximum temperatures reach 40 degrees Celsius within the next 24 hours.

HAVANA, July 31 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi held talks with his Cuban counterpart Bruno Rodriguez here Saturday on the development of relations between their two countries.Yang called Cuba a very influential country in Latin America and the Caribbean and said the promotion of traditional friendship ties between China and Cuba meets the fundamental interests of the two countries.In addition, Yang said, promotion of the countries' traditional friendly ties also would help safeguard and strengthen global and regional peace and common development.Visiting Chinese Foreign Minister Yang Jiechi (L) shakes hands with his Cuban counterpart Bruno Rodriguez during their meeting on the development of relations between their two countries in Havana of Cuba July 31, 2010.Rodriguez said Cuba attaches great importance to strengthening its ties with China and is willing to advance its relationship with the Asian nation.The two ministers agreed to bring their countries' bilateral ties to a new level at the 50th anniversary of the establishment of diplomatic relations between China and Cuba.They also agreed to maintain the momentum of exchanges between the leaders and senior officials of the two countries and expand exchanges at the inter-party, inter-governmental and inter-parliamentary levels.The foreign ministers also agreed to boost bilateral trade and investment cooperation, advance work on key cooperation projects, and encourage exchanges between their universities, research institutions and non-governmental organizations.Rodriguez and Yang also agreed that China and Cuba should boost cooperation in international affairs to defend their interests and the common interests of developing nations.The leaders also witnessed the signing of an economic and technological cooperation agreement between the two governments.In addition, Yang paid tribute to Jose Julian Marti Perez at a monument honoring the Cuban poet and hero.

BEIJING, June 21 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao on Monday made directives urging rescuers to "exhaust all means possible" to save miners trapped in an exploded colliery in central Henan Province.A total of 72 miners were trapped after explosives went off at the powder magazine of the Xingdong No.2 Mine in Weidong District of Pingdingshan City at about 1:40 a.m. At least 46 people were reported dead.

BEIJING, July 15 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 2.9 percent year on year in June, the National Bureau of Statistics (NBS) announced here Thursday.The figure stood at 2.6 percent in the first half of this year compared with the same period last year, according to the NBS.  A woman walks by a sale advertising poster in Beijing, capital of China, May 11, 2010.