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BEIJING, Aug. 14 (Xinhua) -- China and Switzerland Saturday marked the 60th anniversary of their diplomatic ties at a reception in Beijing.Addressing the occasion, senior Chinese official Liu Qi said China hopes to take the opportunity of the 60th anniversary to enhance mutual political trust and cooperation with Switzerland in various fields.Liu, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, said China attaches great importance to developing friendly relations with Switzerland, one of the first Western countries to recognize the People's Republic of China.Currently China is Switzerland's second largest trading partner in Asia, and Switzerland is a major partner of China in Europe, said Liu.Doris Leuthard, President of the Swiss Confederation and Head of Federal Department of Economic Affairs, said Swiss-China relationship has deeply developed since the establishment of the diplomatic ties on Sept. 14, 1950.Leuthard said the two economies are complementary and can achieve win-win results in fields such as environment, machinery and financial services.Leuthard is paying a working visit to China from Aug. 10 to 15, at the invitation of Chinese President Hu Jintao.

BEIJING, July 12 (Xinhua) -- Chinese Foreign Minister Yang Jiechi held official talks with his Icelandic counterpart Ossur Skarphedinsson here on Monday, vowing to further expand mutual understanding and push forward bilateral ties up to a new stage.Calling the two countries good friends and partners, Yang said China and Iceland enjoy solid foundation of trust though they had different national conditions. Both sides had fruitful cooperation in the areas such as trade, fishery and culture, and kept sound contacts and coordination in global and regional affairs."China is ready to take the chance of the 40th anniversary of the establishment of diplomatic ties next year to further enhance understanding and cooperation with Iceland," Yang said. Chinese Foreign Minister Yang Jiechi (R) shakes hands with Icelandic Foreign Minister Ossur Skarphedinsson in Beijing, capital of China, July 12, 2010.Skarphedinsson reiterated his country's adherence to the one-China policy, adding Iceland is committed to strengthening bilateral pragmatic cooperation in various areas.Hailing the smooth growth of bilateral ties, he extended appreciation for China's support for his country when it was severely hit by the global financial crisis these years.

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. 22 (Xinhua) -- Some 87 percent of Chinese who studied abroad in 2009 received financial support from their parents, China.com.cn, a government-run website, reported Sunday quoting a survey by education research company MyCOS.The survey divided its interviewees into two categories: undergraduate students who graduated from China's top 211 universities in 2009 and those who did not.According to the survey, 1.64 percent of undergraduate students graduating from China's top 211 universities in 2009 went abroad for study, 0.61 percentage points higher year on year.Some 0.69 percent of undergraduate students from the other category also pursued overseas studies.According to the survey, the majority of the students who studied abroad took economics and business management as their major.The survey also showed 9 percent of those studying abroad received scholarships from the foreign institutions while 3 percent supported themselves through part-time jobs. One percent were funded by the Chinese government.Chinese universities and colleges graduated 6.1 million students in 2009, according to statistics from the Ministry of Education.

BEIJING, July 30 (Xinhuanet) --Zhejiang Geely Holding Group Co is expected to complete it takeover of Swedish luxury car brand Volvo from US automaker Ford Motor Co on Monday after getting government approval for the deal.Ministry of Commerce officials told China Daily on Thursday that the government cleared the Volvo deal on Monday 26, after the National Development and Reform Commission cleared the proposal last week.Geely has also got the necessary anti-trust approvals from the European Union and the US government for the deal.Li Shufu (center), chairman of Zhejiang Geely Holding Co, arrives for a news conference in Beijing earlier this year. The Geely-Volvo deal has won approval from the Chinese government."With this the decks are now clear for Geely to complete its acquisition of Volvo and start manufacturing the brand in China," said Wang Zhile, director of the research center on transnational corporations under the Ministry of Commerce.Yuan Xiaolin, Geely's spokesman for the Volvo deal was unavailable on Thursday for comment. However, unnamed sources from Geely told China Daily that the Zhejiang-based automaker will hold a formal function on Monday to complete the deal.Geely's shares surged nearly 11.32 percent and closed at HK.95 per share in Hong Kong on Thursday.Privately owned Geely paid .8 billion to acquire the Volvo car brand from Ford on March 28 this year. It was the biggest overseas deal made by Chinese automakers in recent times.Geely Chairman Li Shufu had at that time indicated that the company would invest 0 million as operating capital in Volvo apart from the US.8 billion purchase price.Geely said on July 15 that it had appointed Li as the chairman of the board at Volvo Car Corp. At the same time it appointed the former president and CEO of Volvo Hans-Olov Olsson as the vice-chairman.More appointments to the board and top management, including the chief executive and chief financial officer, may be made next week, said sources.Analysts said the Volvo buy will help Geely gain a competitive edge in China and also a major toehold in Europe.Pursuant to completion of the deal, Geely is likely to start making Volvo cars locally.Though it has not announced a location yet, indications are that it may consider Jiading in Shanghai, Chengdu in Sichuan, Beijing or Tianjin as possible production sites.During the firsts six months of the year, Volvo sold 15,497 cars in China, up 88 percent over last year.That compares to the Swedish luxury brand's 5.2 percent and 9 percent year-on-year decline in major markets like the United States and Germany.Geely plans to increase Volvo's annual sales in China to 150,000 units by 2015, said sources.

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