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BEIJING, Nov. 9 (Xinhua) -- China Merchants Securities, a leading domestic brokerage firm, announced Monday that it has set its A-share initial public offering (IPO) price range between 26 yuan (3.8 U.S. dollars) and 31 yuan.     The Guangdong-based brokerage is scheduled to issue no more than 358.5 million shares, it said in a statement to the Shanghai Stock Exchange Monday.     The IPO price translates into a price to earnings (P/E) ratio between 47.18 and 56.26 times. The subscription of the company starts on Tuesday, said the company.

STOCKHOLM, Oct. 28 (Xinhua) -- China's Geely Automobile on Wednesday have been confirmed as preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.     Ford said while it would be engaging in more detailed and focused negotiations with Geely, no final decisions have been made, reported the Swedish news agency TT.     Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand. "We have no specific timeline to conclude the discussions," a statement of Ford was quoted as saying by TT.     It also pointed out that Ford would continue to cooperate with Volvo in several areas after a possible sale, Ford said it does not intend to retain a shareholding in Volvo.     "Ford's objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties," Lewis Booth, executive vice president and chief financial officer of Ford Motor Company, said in the statement.     "Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement our core ONE Ford strategy," Booth added.     "Volvo's management team welcomes today's announcement as a positive step forward," Volvo CEO Stephen Odell said.     "At Volvo, we are continuing to keep our attention firmly fixed on engineering and building great Volvo cars, to reduce our cost base and to return the business to sustainable profitability at the earliest possible opportunity," he added. 

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao met here with visiting U.S. President Barack Obama on Tuesday. Both leaders agreed to start cooperation in new fields of space exploration and high-speed railway construction.     Hu said both leaders agreed to deepen cooperation between China and the United States on the basis of mutual benefits in areas such as anti-terrorism, law enforcement, science and technology, agriculture, health care and civil aviation.     The two leaders also initiated to start cooperation in new areas like space exploration and high-speed railway infrastructure construction, and keep promoting greater development in military relations.     Obama and Hu also discussed to expand cultural exchanges between the two nations, especially youth exchanges, and supported both sides to set up a cultural exchange mechanism and to strengthen cooperation on dispatching more students to each other countries.     Obama is paying a four-day visit to China, his maiden trip to China since taking office in January.

BEIJING, Dec. 8 (Xinhua) -- Chinese President Hu Jintao Tuesday spoke highly of the strategic security talks with Russia that helped to promote bilateral ties, pledging to further the bilateral strategic partnership of cooperation in the coming year.     The security talks, initiated in February 2005, served as a platform for the two states to enhance political trust and cooperation in various fields, especially in law-enforcement and security aspects. Chinese President Hu Jintao (R) meets with Russian Security Council Secretary Nikolai Patrushev in Beijing, capital of China, Dec. 8, 2009Chinese State Councilor Dai Bingguo and Russian Security Council Secretary Nikolai Patrushev attended the fourth round of talks in Beijing early Tuesday.     They discussed bilateral ties, saying it witnessed a balanced, smooth and quality development this year, which marks the 60th anniversary of the establishment of diplomatic relations between the People's Republic of China and Russia.     They applauded the frequent high-level visits, improved strategic coordination, enhanced strategic mutual trust, and the expanding economic and humanitarian cooperation. China and Russia hold the fourth round of strategic security consultations in Beijing, capital of China, Dec. 8, 2009. "The two sides believed that the strategic coordination between China and Russia played an important role in safeguarding the two states' strategic security interest, development, and the world peace and stability," the Chinese Foreign Ministry said in a press release.     The two sides pledged to further strengthen coordination in their strive to promote the reform on global governance mechanism, maintain close cooperation on major international and regional issues, enhance regional cooperation and preserve their common interest. Chinese State Councilor Dai Bingguo (R Front) shakes hands with Russian Security Council Secretary Nikolai Patrushev after they signed the China-Russia strategic security consultations mechanism cooperation protocol following the fourth round of strategic security consultations in Beijing, capital of China, Dec. 8, 2009. They also discussed the nuclear issue on the Korean Peninsula, Iran's nuclear program, the Group of 20, the reform of the United Nations, climate change, nuclear disarmament, the BRIC and the Shanghai Cooperation Organization, Chinese diplomatic sources said.     "The world is experiencing dramatic change and adjustment, which will offer new opportunities and challenges for the development of both China and Russia," Hu said during a 40-min meeting with Patrushev in the Great Hall of the People in central Beijing.     It will also raise new task and requirements for the development of the China-Russia strategic partnership of cooperation, Hu told the senior Russian security official.     China will work along with Russia, take the opportunities and enhance the all-round strategic coordination and substantial cooperation in various fields in a bid to lift bilateral ties into a new phase, Hu noted.     Hu proposed the two sides to tap the full potential of the strategic security talks so as to make further contribution to the development of bilateral ties.     Patrushev echoed Hu's remarks on world situation, adding that it is of great significance for Russia and China to speed up strategic coordination under the context of the global financial crisis.     The frequent exchange of high-level visits and cooperation in various fields fueled the development of bilateral ties, he said, vowing to further enhance cooperation with China in a bid to bolster bilateral ties.

STOCKHOLM, Oct. 28 (Xinhua) -- China's Geely Automobile on Wednesday have been confirmed as preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.     Ford said while it would be engaging in more detailed and focused negotiations with Geely, no final decisions have been made, reported the Swedish news agency TT.     Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand. "We have no specific timeline to conclude the discussions," a statement of Ford was quoted as saying by TT.     It also pointed out that Ford would continue to cooperate with Volvo in several areas after a possible sale, Ford said it does not intend to retain a shareholding in Volvo.     "Ford's objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties," Lewis Booth, executive vice president and chief financial officer of Ford Motor Company, said in the statement.     "Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement our core ONE Ford strategy," Booth added.     "Volvo's management team welcomes today's announcement as a positive step forward," Volvo CEO Stephen Odell said.     "At Volvo, we are continuing to keep our attention firmly fixed on engineering and building great Volvo cars, to reduce our cost base and to return the business to sustainable profitability at the earliest possible opportunity," he added.