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KIEV, Sept. 23 (Xinhua) -- Ukraine's coal industry ministry and China's state development bank reached an agreement on cooperation in the coal industry Thursday."We have signed a document which provides an algorithm for further implementation of investment projects," Yuriy Yaschenko, the Ukrainian coal industry minister, told reporters after a meeting with Gao Jian, deputy head of the State Development Bank of China.The memorandum applies to three investment projects to be launched in the Lugansk and Donetsk regions in eastern Ukraine, Yaschenko said."Chinese experts have already arrived in Ukraine, they are now visiting the shafts. They will inspect the technical condition and consider how to implement these projects," Yaschenko said.Gao said China's State Development Bank is willing to expand cooperation with Ukraine not only in the coal industry but also in agriculture, infrastructure construction and other fields.Ukraine's coal industry and China's State Development Bank signed a framework agreement on financial cooperation on Sept. 2 during Ukrainian President Viktor Yanukovych's visit to China.Under the agreement, Ukraine's coal ministry presented to the Chinese side a package of seven investment projects with an estimated cost of more than one billion U.S. dollars.

TIANJIN, Oct. 23 (Xinhua) -- China has become Volvo's third largest market, with more of its car models to go on sale in the world's largest auto market this year, Chief Executive Office (CEO) of Volvo Cars China said in Tianjin.Dr. Alexander Klose, CEO of Volvo Cars China, told Xinhua at the Ninth Tianjin International Automobile Trade Show, being held from Friday to Wednesday.Klose said Volvo Cars had entered a new era of fast development, adding that its sales in China roared in 2010.As of the end of September, Volvo's global sales volume was up 12.5 percent year on year, compared with 52 percent year-on-year rise in China, he said.Volvo also aggressively expanded its dealer network to 98 outlets in 81 Chinese cities this year.Two new Volvo sales centers opened in Beijing within merely one week in early October, about two months after east China's Zhejiang Geely Holding Group Co. acquired the Swedish brand from the U.S. auto giant Ford for 1.5 billion U.S. dollars in early August.Dr. Klose said he was confident of seeing tremendous growth in China's auto market in the next five years."As the Chinese government has increased the tax rate for large displacement cars already, we now have a lot of cars below three liters, and I think we'll stick to that strategy, as you can see now the XC60 which was introduced today is just two liters," he said."As the technology advances, we'll probably even see 1.6 liter engines or 1.5 liter engines in the future," he added.Volvo Cars is not the only automaker hoping to take advantage of China's rapidly growing auto market.Bentley, the famous British luxury carmaker, will open a new sales center in China at Tianjin next Thursday, which is the 11th one in China, according to a press release by Shanghai-based Zenith Integrated Communications Corp. (Zenith) Saturday at the auto show.Zenith is the public relations agent of Bentley in China. The automaker has sold 421 limousines to China in 2009, and the goal for 2010 is 777, the release said.

YUZHOU, Henan, Oct. 16 (Xinhua) -- Scores of rescuers on Saturday night slowly made their way through dust-filled underground tunnels to continue searching for 16 miners who were trapped following a coal mine gas leak in central China's Henan province.Twenty-one miners have been confirmed dead in the accident, local work safety authorities said, while 239 out of the 276 miners who were working underground escaped after the gas leak occurred at about 6 a.m. in a small coal mine in Yuzhou city."The thick dust in the shaft is hampering the rescue. We must clear the dust first. We have located the trapped miners already," said Du Bo, an engineer with the mine's parent company who participated in the rescue.He said more than 2,500 tonnes of coal dust were in the pit due to damage caused by the gas leak.The conditions of the missing miners remains unknown. Officials said the miners were located 50 to 80 meters down the shaft from the entrance to the pit."Fortunately, there was no gas explosion. Otherwise, the consequence would be disastrous," a rescuer surnamed Wang told reporters. He said most of the victims were believed to have suffocated.Officials said work crews are struggling to retrieve the remains of the victims from the mine.The mine is owned by Pingyu Coal & Electric Co. Ltd., a company jointly established by four investors, including Zhong Ping Energy Chemical Group and China Power Investment Corp. It was hit by a similar gas and coal leak in 2008. Twenty-three people died in that accident.Ironically, miners were working underground to improve accident prevention measures when the gas leak occurred on Saturday.Billboards reading "Safety is a fortune of the family; Safety is of heavenly importance to our miners" hung at the entrance of the mine.Guo Gengmao, governor of Henan, and Luo Lin, head of the State Administration of Work Safety, supervised the rescue efforts.Authorities are investigating the cause of the gas burst.The accident occurred as people around the globe watched in awe during the rescue of 33 Chilean miners trapped underground for more than two months. China's work safety officials and experts said there are lessons to learn from Chile's dramatic rescue."Mining accidents in China usually claim heavy loss of lives. The lack of modern emergency response systems is a key factor," said Liu Tiemin, a researcher with the China Academy of Safety Sciences and Technology.Gas leaks in China's coal mines left 341 people dead in the first half of this year.Of note, the fatality rates have actually decreased in recent months as the country's senior officials ordered the industry to strengthen safety measures.China closed 7,466 illegal mines in four years, from 2006 to 2009. Mine operators are required to obtain all operational permits and have safety systems installed.

BEIJING, Oct. 27 (Xinhua) -- China will stick to the strategy of expanding domestic demand, consumption in particular, and seek a new phase of economic growth boosted by consumption, investment and exports, according to an official document released Wednesday.The document, the Communist Party of China (CPC) Central Committee's Proposal for Formulating the 12th Five-Year Program for China's Economic and Social Development (2011-2015), was adopted at the Fifth Plenum of the 17th CPC Central Committee, which concluded nine days ago.Macro-economic controls would be boosted, according to the document.A key task in the 12th Five-Year Plan would be to consolidate and expand achievements in fighting the global economic downturn. China would seek a balance between stable and relatively fast economic growth, restructuring and inflation expectation management.Consistency and stability of the macro-economic policies would be maintained, while improving their flexibility, scientific properties and foresight to guard against potential risks and avoid drastic economic fluctuations.Short and long-term macro-economic controls would be combined, while policies were coordinated to ensure stable and relatively fast economic growth.A long-term mechanism would be built to boost consumption demand.Consumption would be highlighted in expanding domestic demand to release urban and rural consumption potential and allow China to ascend to the top-ranking markets in the world, said the document.

SHANGHAI, Oct. 10 (Xinhua) -- The China Pavilion at the Shanghai World Expo welcomed the 8 millionth visitor Saturday as a senior pavilion official announced its exhibition would run for another six months, beginning Dec.1."The China Pavilion's exhibitions will be extended for half a year beginning Dec.1 to meet people's needs", said Qian Zhiguang, deputy director of the China Pavilion on Saturday.The China Pavilion, named "The Crown of the East", has become increasingly popular since the World Expo open on May 1, with an average of 50,000 visitors daily.However, space restrictions have resulted in many visitors being turned away during the Expo, which closes at the end of October.Further, the China Pavilion is negotiating with local museums which are displaying historical items, to continue showing these national treasures, including bronze chariots and horses from the Qin Emperor, ancient porcelain, and invaluable Chinese paintings from 800 years ago.The China Pavilion is one of the permanent structures that will remain after the World Expo.