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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.

YUSHU, Qinghai, July 23 (Xinhua) -- The Gross Domestic Product (GDP) of the quake zones in China's far northwestern Qinghai Province would be quadrupled by 2015 on the basis of that of last year, Luo Huining, governor of the province said here Friday."By the end of China's 12th Five-Year Plan (2011-2015), the GDP in Qinghai quake zones would reach four times as much as that of 2009, with the service industry accounting for 45 percent of it," Luo said during an exclusive interview with Xinhua, exactly 100 days after a 7.1-magnitude earthquake struck Yushu in April.The earthquake left 2,698 people dead and 270 missing.Luo said local authorities would focus on improving public services and promoting urbanization of the quake zones during the reconstruction phase.According to Luo, authorities would try to help all farmers and herdsmen in the region settle down within three years, upgrade their housing facilities, and provide them with basic access to safe drinking water."By the end of this year, local government would invest 5.55 billion yuan to rebuild 80 percent of farmers' houses in the quake zones," Luo said. Total investment in housing reconstruction in the regions would reach 9.6 billion yuan within three years.

CANBERRA, June 22 (Xinhua) -- Chinese Vice President Xi Jinping met here on Tuesday with Australian Governor-General Quentin Bryce.During the talks, Xi said he had exchanged views with a wide range of leaders and entrepreneurs in Australia during his trip, reaching comprehensive consensus on deepening cooperation on politics, trade, science and technology, education and tourism.Earlier this month, Bryce herself had paid a visit to China, attending the ceremony of "Australian Pavilion Day" at the Shanghai Expo and hosting the opening ceremony for "Australian Culture Year."Xi praised that such moves showed that the Governor-General attaches great importance to developing relations with China.Chinese Vice President Xi Jinping (L) meets with Australian Governor-General Quentin Bryce in Canberra, Australia, June 22, 2010.Xi said both China and Australia are two important nations in the Asia-Pacific region, and both share common interests in safeguarding the peace and stability in the region and pushing forward the regional and global economic growth.The vice president said the Chinese government is willing to join hands with Australia to enhance dialogue, expand consensus, increase mutual trust and explore cooperation, so as to achieve more progress in developing bilateral relations and bring more blessing to people in two countries.Bryce said Xi's current visit has conveyed important signal that Chinese people attach importance to the relations with Australia, demonstrated the depth of the bilateral relations and set the direction for future efforts.Earlier on Monday, Xi and Australian Prime Minister met business leaders from China and Australia who attended a CEO roundtable meeting in Canberra.Later on Tuesday afternoon, Xi and the Chinese delegation flew from Canberra to Darwin, the last leg of his Australian trip.

BEIJING, July 29 (Xinhua) - As China's urban population reached 46 percent of the total population last year, Chinese urban dwellers became the largest such population in the world, according to a 'blue paper' released on Thursday.By the end of 2009, China's urban population reached 620 million as both the annual birth rate and the total urban population became the world' s largest, according to "City' s Blue Book: China's Urban Development Report No. 3," which has been released by the Chinese Academy of Social Sciences and the Social Sciences Academic Press.It said China's urban population is twice that of the population of the United States and one quarter more than the total population of 27 countries of the European Union.By 2015, urban residents in China will make up about 52 percent, and by 2030, 65 percent of the total population in the country, it said."A milestone change for urban development will take place when urban people make up more than 50 percent of the population and thus surpass the number of rural people," the paper said."The 50-percent point phenomenon will occur in the mid-12th Development Program period (2011-2015) when both the number of urban and rural Chinese will reach 680 million," it said.The role of the urban economy will be further strengthened by that time, it said, adding that the urban economy would continue to drive the domestic demand.

CAIRO, July 5 (Xinhua) -- A seminar aimed at improving the levels of trade between Egypt and China was held in Cairo late Monday.The two-hour forum was attended by about 60 officials and representatives from both Egyptian and Chinese companies. Cao Jiachang, commercial counselor at the Chinese embassy to Egypt and Mohamed Shafeek, chairman of Egypt's General Authority for Imports and Exports Control, joined the discussion.The forum discussed the pre-shipment inspection of Egypt's imported industrial products from China and other topics such as the improvement of trade structure between the two countries.In February 2009, China's top quality watchdog and Egypt's Ministry of Trade and Industry signed a memorandum of understanding for pre-shipment inspection of Chinese industrial products exported to Egypt.Trade and economic cooperation between China and Egypt have seen rapid development in recent years. In 2009, bilateral trade volume reached 5.86 billion U.S. dollars.