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CHICAGO, April 5 (Xinhua) -- There are some very exciting opportunities for collaboration between the United States and China in carbon exchange, said a senior executive in Chicago Monday.Richard L. Sandor is chairman and founder of the Chicago Climate Exchange (CCX), the world's first and North America's only voluntary, legally binding greenhouse gas cap-and-trade system. Sandor is also chairman of the Chicago Climate Futures Exchange ( CCFE), the world's leading futures exchange for environmental products.Sandor told Xinhua in an exclusive interview, "I recently spent two weeks in Beijing, Shanghai, Tianjin and Hong Kong. My view, based on the people I've met with on my trips and that I work with everyday, is that there are some very exciting opportunities for collaboration between the U.S. and China in the field of carbon exchange."He said that a great example is the recent establishment of a joint venture between Chicago Climate Exchange and two Chinese partners -- China National Petroleum Corporation and the City of Tianjin. Working together they will develop an electronic emission trading platform and auction facility for financial products to reduce sulfur dioxide emissions and water pollutants, as well as enhancement of energy efficiency, said Sandor.Sandor added, "The Tianjin Climate Exchange (TCX) has begun to implement pilot initiatives that can help pave the way for a strong market-based infrastructure that facilitates the environmental and policy goals of the People's Republic of China."When talking about the opportunities and challenges facing the U.S.-China collaboration in carbon trading area, Sandor said, "We operate in a range of legal and regulatory frameworks with global affiliates in the United States, Europe, China, Australia and Canada. While each country has unique characteristics that come with different demands and needs, what seems to be clear across the board is the importance a market mechanism will play in meeting those demands."He further explained, "Interest is growing globally in carbon markets as a way to achieve better strategic management of energy costs, new products, new sources of revenue, job creation and poverty alleviation. Going forward this is likely to develop on what could be called a "pluri-lateral" basis. There will be markets in different parts of the world that are linked by similar contracts -- much like you see with crude oil today or like we saw with cotton in the 19th century."The farming and forestry carbon exchange offsets program has been an important part of Chicago Climate Exchange. Sandor said, " Since Chicago Climate Exchange began in 2003, the offsets program has covered approximately 17.2 million acres, 9,000 individual farmers, ranchers and forest owners and 32.4 million metric tons of offsets. Mitigation practices taking place on farms, ranches and forests are good for water, wildlife and the climate, while providing a new income source for rural economies. "Regarding the effect of the offsets program, Sandor said, " Thousands of farmers, foresters and ranchers who commit to exceptional management practices that remove carbon from the air are now earning new income. The verified best practices that are used by land managers make crops better able to weather climate extremes, generate clean economy jobs, and incentivize new techniques that can further cut emissions.""However, this is only a small part of what Chicago Climate Exchange members have been able to achieve," said Sandor. "Of all reductions made by CCX members since 2003, about 15 percent have been through offset projects. The remaining cuts are made through companies that are taking a broad range of steps to reduce their emissions. Electricity generators have implemented efficiency retrofits at power plants, used lower-carbon fuels, and optimized nuclear and hydro plant operations."When commenting on the U.S. legislation on carbon exchange, Sandor told Xinhua, "In June of 2009 a comprehensive climate legislation bill was approved by the U.S. House of Representatives which included a national greenhouse gas reduction and trading system with compliance required starting in 2012. In the Senate, progress continues on multiple fronts. Senator Kerry is currently collaborating with Senators Lieberman and Graham to craft a bill with bipartisan support."He continued, "While policymakers at the federal level work through the details of a federal bill, interest is growing in regionally mandated markets, such as the Regional Greenhouse Gas Initiative, which trades on the Chicago Climate Futures Exchange ( CCFE). State governments are increasingly looking to encourage renewable power generation and driving growth in renewable markets. "Sandor is also a research professor at the Kellogg Graduate School of Management at Northwestern University where he teaches a course on environmental finance. He is a Member of the International Advisory Council of Guanghua School of Management at Peking University and a member of the TERI School of Management Advisory Committee in India. Sandor previously taught at the University of California Berkeley, Stanford University, and Columbia University.

BEIJING, March 30 (Xinhua) -- Chinese auto maker Zhejiang Geely Holding Group is ready to inject 900 million U.S. dollars operating capital into Volvo on top of the 1.8 billion U.S. dollars purchase price, Geely chairman Li Shufu said Tuesday."We should not only inject money into Volvo, but also endeavor to improve Volvo's profit-making capability," Li said at a press conference to discuss the Volvo takeover.The Zhejiang-based Geely signed a deal with Ford Motor Co. Sunday in Sweden to acquire the U.S. auto giant's Volvo car unit.The photo taken on March 23, 2010 shows Volvo assembly plant in the suburbs of western Belgian city of Gent. China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. in Goteborg of Sweden on March 28, 2010 to acquire the U.S. auto giant's Volvo car unit"Geely is Geely, while Volvo is Volvo. Geely will not produce Volvo, and Volvo will not produce Geely," said Li, also the founder of the firm, adding that Volvo would keep its unique characteristics after the takeover.Li said Volvo's biggest problem was its small production scale and high research and development expenses, adding Volvo should try to increase production and sales to cut costs.

CANBERRA, May 14 (Xinhua) -- Visiting General Guo Boxiong, Vice- Chairmen of China's Central Military Commission met the Australian Chief of the Defense Force Air Chief Marshall Angus Houston on Friday.Guo said China and Australia have extensive range of common interests and hold responsibilities in safeguarding regional stability and promoting common development.The two countries are important trading partners, maintaining good dialogues and consultation in responding to international financial crisis, climate change and other major issues such as the Asia-Pacific regional cooperation, he added.According to Guo, defense and military relations between China and Australia in recent years are more matured, more dynamic and the cooperation has great potential and bright prospects for development.In order to better response to the diversity of regional and global challenges, the two sides need to further strengthen communication, enhance mutual trust, consolidate the basis of mutually beneficial cooperation, the Chinese General said.Houston said that together with the increasing national strength, China will play a greater role in global and regional affairs. Australia hopes to strengthen cooperation with China in communication and cooperation, jointly safeguarding regional peace and stability.He said that meanwhile, the Australian government is satisfied with the current bilateral defense and military relations.Guo arrived on Tuesday in Australia for an official visit, and held talks with Australian Defense Minister John Faulkner and met with Australian Foreign Minister Stephen Smith.

BEIJING, April 29 (Xinhua) -- China will shoulder more international responsibilities as it is the aspiration of the international community and in China's own interest, too, Chinese Premier Wen Jiabao said here Thursday afternoon.Wen made the remarks while meeting the press with European Commission President Jose Manuel Barroso after talks at the Great Hall of the People.Wen said China has made remarkable achievement in reform, but that Chinese leaders remain clear-minded about the challenges the country faces."We are determined to pursue reform and opening up and peaceful development and are confident in the future of the country and its people," he said.China supports the self-strengthening efforts of European nations, Wen said. Chinese Premier Wen Jiabao (R) attends a joint press conference with European Commission President Jose Manuel Barroso at the Great Hall of the People in Beijing, capital of China, April 29, 2010.He noted China has never interfered in the internal affairs of the European Union (EU).He expressed his belief in the EU as an independent pole in the international arena which plays a constructive role for world peace and development."No matter what changes take place in the world, China and the EU will work together to meet challenges and progress together," Wen said.

WASHINGTON, March. 26 (Xinhua) -- A sound and stable China-U.S. economic and trade relationship is more important than ever and the trade between the two countries is a win-win game, said Chinese Vice Commerce Minister Zhong Shan in an article published on Friday's Wall Street Journal."China-U.S. trade and economic cooperation has generated huge and real benefits for the United States, while China has been gaining a lot from it as well," Zhong stated in the article.In 2009 China jumped to become the third biggest market for U.S. exports. American companies have cumulatively invested over 62.2 billion dollars in 58,000 projects in China and reaped bumper harvests. Their profits in China amounted to nearly 8 billion dollars in 2008 alone, according to the data released by the Chinese government.Zhong said that since the outbreak of the international financial crisis, China has been supporting the efforts of the American people to tackle the crisis."On the one hand, China has increased imports from the U.S.," said the Chinese official.