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CHENGDU, June 3 (Xinhua) -- Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. (Tengzhong), a private Chinese firm who has struck a preliminary deal with General Motors Corp. (GM) for the premium SUV brand Hummer, said Wednesday it has no plan to manufacture Hummer in a Chinese plant. "Rather than setting up a plant in China, Tengzhong will use the current facilities including their employees in the United States," said Zhao Xiaolu, spokesman for the ongoing transaction for Tengzhong, a leading manufacturer of road, construction and energy industry equipment based in southwest China's Sichuan Province,     Zhao works for the Brunswick Group, which is handling the public relations matters for the Tengzhong deal. Tengzhong's managers were not available for comment on the transaction, which was disclosed Tuesday, a day after GM filed Chapter 11 bankruptcy. File photo taken on March 11, 2009 shows Hummer CEO James Taylor (R) presenting a Hummer model to a local official in Deyang, southwest China's Sichuan Province. U.S. automaker General Motors Corp., a day after filing Chapter 11 bankruptcy, has a tentative deal to sell its Hummer brand to Chinese-based Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd., the automaker said on June 2.     According to an overall restructuring plan, the U.S. based automaker GM will shed off its none-core assets including Hummer, Saturn, Saab and Pontiac.     The preliminary deal allows Tengzhong to keep the management and operational team along with the Hummer brand, and secure more than 3,000 jobs in the United States. The Chinese buyer will also assume existing dealer agreements relating to Hummer's dealership network.     Tengzhong CEO Yang Yi said in a statement Tuesday that the company will "allow Hummer to innovate under the leadership and continuity of its current management team".     James Taylor, Hummer chief executive officer, went to Chengdu City and Deyang City, Tengzhong's current base and new base under construction, to discuss project cooperation with local officials in March.     "This transaction, if successful," said Taylor in a statement Tuesday," will allow us to embark on a more aggressive global expansion, ensuring a successful future with our new partners."     According to Zhao, Tengzhong will use internal fund and bank loan to make the transaction, which will be a "strategic move for the company to expand into the premium off-road vehicle segment". Formed in 2005 through a series of mergers, Tengzhong currently has more than 4,800 employees.     "It is probably more attractive for Chinese enterprise like Tengzhong to learn from the foreign brand's past successful experience in research, design, marketing and service," said Guo Guoqing, a professor with the School of Business, Renmin University of China.     Xu Zhaohui, head of the Sichuan Provincial Department of Commerce, said the officials will "strive to serve the transaction", which is expected to close in the third quarter of this year and is subjected to customary closing conditions and regulatory approvals.     In recent years, there have been several headline purchases of foreign auto brands by Chinese enterprises. A Hummer is on sale at a dealer in Flint, Michigan, the United States, May 30, 2009. General Motors Corp (GM) announced on June 2 that it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER, its premium off-road brand, a day after it filed for bankruptcy protectionIn 2004, Shanghai Automotive Industry Corporation Group (SAIC)purchased 48.9 percent equity of Ssangyong Motor, the fourth largest automaker in the Republic of Korea (ROK). In 2005, Nanjing Automotive bought collapsed British brand MG. And this March, China's largest independent carmaker Geely Automobile acquired Drivetrain Systems International, the world's second largest auto transmission supplier.     "Acquisition of overseas brands by Chinese enterprises could help these brands go over operational dead end, and expand in the vast Chinese market," said Guo.     All the world's main auto markets are in decline except form China. In the first quarter, almost 2.68 million vehicles were sold in China, which marked a 3.88 percent increase year on year.     However, not all foreign auto brands revived under Chinese management. In February, a Seoul court granted Ssangyong Motor bankruptcy protection. SAIC was deprived of management control despite its 51 percent ownership.     "Declining asset prices amid the financial crisis do not always mean a good bargain for the buyer," said Zhang Zhiyong, the chief adviser on auto market with Mingyuan Consultancy in Beijing, "a Chinese automaker should choose a foreign brand with conforming strategy and similar culture for possible acquisition."     The fuel-hungry brawny Hummer also pose new challenges for Tengzhong to control cost and boost competitiveness after takeover. Statistics from local vehicle management section showed that Hummer vehicles are only owned by about 10 people in Sichuan's capital Chengdu currently.     "We will be investing in the Hummer brand and its research and development capabilities," said Yang Yi in a Tuesday statement, " which will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles."  (Xinhua reporters Yan Sanjun, Guo Xin, Cheng Xie and Chen Kai also contributed to this story)

BEIJING, April 21 (Xinhua) -- China and Albania issued a joint statement here Tuesday in which they said they would boost their traditional friendship and bilateral cooperation in all fields.     The statement was issued after official talks between Chinese Premier Wen Jiabao and his Albanian counterpart Sali Berisha in the Great Hall of the People during the afternoon.     The two countries vowed to increase mutual investment, encourage more business contacts and promote a balanced development of trade ties, the statement said.     China would support its competitive companies to invest in Albania and participate in the country's infrastructure construction, energy and mine exploitation, it said. Albania said it appreciated China's aid for its economic development. Chinese Premier Wen Jiabao (R) shakes hands with Albanian Prime Minister Sali Berisha during a welcoming ceremony in honor of Berisha at the Great Hall of the People in Beijing, capital of China, April 21, 2009    The two countries pledged to strengthen dialogue at various levels and increase exchanges and cooperation between governments, parliaments and political parties, according to the statement.     They would expand cooperation in tourism, agriculture, public health, technology, culture and education, and encourage more exchanges among their local governments and non-governmental groups.     According to the statement, Albania reiterated its adherence to the one-China policy. It acknowledged there is only one China in the world and the government of the People's Republic of China (PRC) is the sole legal government representing the whole China and Taiwan is an inalienable part of China. Chinese Premier Wen Jiabao (2nd L) holds talks with Albanian Prime Minister Sali Berisha (2nd R) at the Great Hall of the People in Beijing, capital of China, April 21, 2009. Albania opposes Taiwan joining international organizations that are only open to sovereign nations and is against "Taiwan independence" secessionist activities in any form, the statement said. Albania also promised not to establish official ties and not to have official contact with the Taiwan authority. China highly appreciated the stance of the country, the statement said.     In face of the global financial crisis, the two countries called on the international community to enhance financial supervision cooperation, fight trade protectionism and reduce the damage of the crisis to developing countries.     China respected the Albanian people's choice of a development path in line with their domestic situation and understood their efforts to join the European integration process, the statement said.     The two countries agreed to abide by the principles of the UN Charter, and support the UN's leading role in safeguarding international security, promoting common development and peacefully solving international disputes.     Both sides proposed to strengthen the function and authority of the UN and UN Security Council and agreed to increase cooperation in the United Nations and other international organizations, the statement said.     The international community should work together to combat terrorism, and the two nations agreed to respect each other's security concerns.     Albania spoke highly of China's achievements since the founding of the PRC 60 years ago and appreciated China's contributions to world peace and development.     Both sides applauded their remarkable cooperation in various areas, and agreed to hold activities to celebrate the 60th anniversary of bilateral ties, the statement said.

CHONGQING, June 6 (Xinhua) -- Rescuers set off a blast in the debris of a landslide Saturday in an effort to open up a shaft to reach the 27 trapped miners in southwest China's Chongqing Municipality.     Rescuers ignited explosives at 8:07 p.m. at a location calculated by experts to reach the shaft where the miners were believed to be buried.     More blasts are needed as about 1.5 million cubic meters of rock and dirt slumped 600 meters from a nearby mountain Friday afternoon, covering up the entrance to the mining pit.     Experts said ventilation, food and water could not be sent into the shaft and the air underground could only support the miners for about seven days.     Experts are still busy surveying and revising plans of future blasts.     So far, 72 people, including 21 local residents, the 27 trapped miners and 18 miners who worked on the ground, two telecom company workers and four passers-by, remained missing.     The accident happened at about 3 p.m. Friday at an iron ore mining area of Jiwei Mountain in Tiekuang Township, Wulong County, about 170 kilometers southeast of Chongqing's downtown.     Chinese vice-premier Zhang Dejiang inspected the site early Saturday morning, asking rescuers to try their best to save life while avoiding secondary disasters. Experts are called on to find out the causes of the landslide.

BEIJING, June 30 (Xinhua) -- Taiwan authority opened up the island to Chinese mainland investment Tuesday with 100 categories of manufacturing, service and infrastructure sectors in the initial opening-up list.     The move marks a historic breakthrough of decades-long hopes for two-way investments across the Taiwan Straits.     Under two new regulations in effect Tuesday, mainland individuals, companies and institutions can set up branch offices, wholly-owned or joint-venture companies on the island.     They have to get approval from Taiwan economic affairs authority in advance, according to the regulations.     Investment from firms based outside the Chinese mainland, in which mainland ownership is more than 30 percent, will also be regarded as mainland investment in Taiwan, the regulations said.     In the initial phase, the Taiwan authority allows mainland investment in 64 categories in manufacturing sector, 25 categories in service sector, and 11 categories in infrastructure sector on the island.     Mainland investment would "help Taiwan's economy prosper" and make international investors more confident in Taiwan market, said John Chen-Chung Deng, deputy head of Taiwan's economic affairs authority, at Tuesday's press conference.     The investment would help increase industry capital in Taiwan and make its financial market more vigorous, he said.     Through two-way cross-Straits investments, the two sides could jointly explore mainland and international markets, he told the press conference.     The formalization of cross-Straits investment is a long-term objective, he said. The opening-up will advance in a "gradual" way and "will be expanded as long as the initial investment bears fruits."     The Taiwan authority planned to send a team to the mainland to attract investment in the second half of this year, he said. Taiwan welcomes mainland companies to conduct investigations for investment on the island.     For the convenience of mainland investors in Taiwan, the relevant authority in Taiwan has also set down regulations on issues including medical service, education, financial need and house purchasing for both the investors and their family, according to the official.     BREAKTHROUGH IN TWO-WAY INVESTMENT     Experts said the move marks the end of the one-way flow of capital from Taiwan to the mainland, and is a basic indicator of the normalization of economic and trade ties between the two sides.     Zhang Yansheng, director of the Institute of Foreign Trade under the National Development and Reform Commission (NDRC), said the influx of mainland capital would greatly boost Taiwan's gross production value, tax income and employment.     The investment would not only benefit Taiwan companies harshly hit by the international financial turmoil, but also enhance competitiveness of mainland companies, he said.     Liu Xiaohong, deputy general manager of Quanjude (Group) Co. Ltd., a Beijing-based company that specializes in the famous Peking roast duck, said the newly announced regulations have cleared major obstacles and will accelerate the company's pace to open outlets in Taiwan.     Direct transport, postal service and trade was totally cut off between the two sides since the Chinese civil war ended in 1949.     On Jan. 1, 1979, the Standing Committee of the National People's Congress, or the top legislature, called for an early realization of the three direct cross-Straits links on transport, mail and trade in its "Message to Compatriots in Taiwan". After 1979, the mainland allowed Taiwan products to enter at lower tax rates or tax-exemption.     In July 1988, the State Council, or the Cabinet, issued regulations encouraging Taiwan compatriots to invest on the mainland.     The mainland has been the largest trade partner of Taiwan since 2003, with annual trading volume surpassing 100 billion U.S. dollars.     Tuesday's announcement came about two months after the mainland and Taiwan reached a historic consensus on allowing mainland companies to invest in Taiwan during talks between the two sides top negotiators on cross-Straits relations.

DAMASCUS, April 26 (Xinhua) -- During his Middle East tour, Chinese Foreign Minister Yang Jiechi on Sunday put out a five-point proposal to push forward the Middle East peace process and common development.     Yang, who has visited Egypt, the Palestinian territories, Israel and Syria, said in an exclusive interview with Xinhua that China has been closely following the situation in the Middle East and he has made in-depth exchanges of views with concerned parties on various issues of the region during his Middle East visit. Syrian Foreign Minister Walid al-Moallem (R) and Chinese Foreign Minister Yang Jiechi hold a joint press conference after their meeting in Damascus, April 26, 2009. The Israeli attacks on the Gaza Strip at the end of 2008 has brought heavy casualties and instability to the region, which shows once again that if the Middle East issue is not been fundamentally solved, there will be no peace and security in this region, he said.     Currently, Israel has formed a new government and the two main Palestinian factions have been holding talks under the mediation of Egypt. Under such circumstances, Yang put the five-point proposal, which includes:     First, the concerned parties should adhere to the peace talks, and firmly promote the peace process on the basis of relevant UN resolutions, the "land for peace" principle, the "Road Map" plan, and the Arab peace initiative, Yang said.     Second, the parties should take positive measures to restore stability and accumulate mutual trust, so as to create conditions for the development of peace process.     Third, China believes the two-state solution should be maintained and calls for an early establishment of an independent Palestinian state and the two countries of Palestine and Israeli live in harmony.     "This is the ultimate way out for the Palestinian issue, which can give guarantee to the Middle East peace and security," Yang said.     Fourth, the international community should continue to pay due attention to the Middle East issue, and deliver its supports to the peace talks, the inner-Palestinian unity and economic growth.     Fifth, the peace negotiations between Palestine and Israel, Syria and Israel, Lebanon and Israel should advance in a coordinated way in order to achieve comprehensive peace across the Middle East region, Yang said.     "As a permanent member of the UN Security Council, China will continue to maintain close communication and coordination with parties concerned to play a constructive role in pushing for a comprehensive, just and lasting solution to the Middle East issue," Yang added.     He said he has enunciated China's position on current Middle East issues during the trip. He hoped relevant parties could stick to the peaceful negotiation and accumulate mutual trust in a bid to advance the Middle East peace process.     He said he believes his visits to the four Middle East nations will contribute to the peace process.     Yang left the Syrian capital Damascus on Sunday after meeting with Syrian President Bashar al-Assad and Syrian Foreign Minister Walid Mualem.