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GUANGZHOU, Aug. 4 (Xinhua) -- Five fishermen are missing after their fishing boat collided with an unknown vessel that then fled off the coast of south China's Guangdong Province early on Wednesday, local authorities said.The wooden fishing boat sank after colliding with the unknown vessel along the coast of Lufeng City in the early morning. Seven fishermen aboard the boat fell into the water, and two were subsequently saved by rescuers, the Lufeng Municipal Emergency Affairs Office said in a statement.The unknown vessel fled the scene following the collision, it said.Local maritime authorities are searching the area for both the five missing people and the runaway vessel, it added.

BEIJING, Aug. 25 (Xinhua) -- More relief supplies, worth 20 million yuan (2.94 million U.S. dollars), have been sent from China to flood-hit Pakistan, China's Ministry of Commerce (MOC) said in a statement Wednesday.The shipments mainly contained urgently-needed daily necessities, including grain, cooking oil, flour, sugar, salt and medicine, the ministry said in a brief notice on its website.The supplies are to be transported through a land route to the Sust dry port near the Pakistan-China border from Kashgar in northwest China's Xinjiang Uygur Autonomous Region, the statement said.However, the ministry did not say when the supplies would arrive, as workers were still rushing to repair the road linking Kashgar and Khunjerab Pass.China is one of the first countries to respond to the relief needs of Pakistan when it was hit by the worst floods in 81 years. China's first delivery of aid, worth 10 million yuan, was delivered on Aug. 4. So far, 40 million yuan worth of supplies provided by China have arrived in Pakistan.China decided to offer an additional 60 million yuan of relief supplies to Pakistan, MOC official Chong Quan announced Wednesday while meeting with Masood Khan, Pakistani ambassador to China.Masood Khan, on behalf of the Pakistani government and people, expressed his gratitude for China's assistance, saying the food, tents and medicine provided by the Chinese government were Pakistan's most urgently needed materials.Foreign Ministry spokeswoman Jiang Yu said on Wednesday that some urgently-needed materials including tents, power generators and sludge-cleaning equipment provided by the People's Liberation Army to the Pakistani armed forces will arrive in Pakistan's Islamabad on Wednesday.

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, June 18 (Xinhua) -- China has become the world's third largest stock market as total market value of the Shanghai and Shenzhen markets hit 20.96 trillion yuan (3.07 trillion U.S. dollars) as of the end of May, the country's securities regulator said Friday.The total market value so far was up 393.76 percent compared to the 2003 level, the China Securities Regulatory Commission said.

BEIJING, June 25 (Xinhua) -- Floods in China have killed 377 people this year, as of Friday, and left 142 others missing, the Office of State Flood Control and Drought Relief Headquarters said Friday in a statement on its website.Further, flooding in 2010 has affected 64.57 million people in China's 22 provinces, municipalities and regions, as well as inundating about 4 million hectares of crops, the statement said.A total of 4.35 million people have been evacuated due to the flood waters, which destroyed 368,000 homes and caused economic losses reaching 75.6 billion yuan (11.13 billion U.S. dollars), according to the statement.Chinese Premier Wen Jiabao visited flood-hit Fuzhou City in the eastern province of Jiangxi Thursday to inspect the fight against flooding and review disaster relief efforts. Wen also asked local officials to send more relief funds and materials to ensure that basic living needs of flood victims are met.