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OMAHA, The United States, May 1 (Xinhua) -- U.S. billionaire Warren Buffett said on Saturday that China is an amazing economy and the Chinese people will be living better lives in 20 years than today.When responding to a question from a Chinese student who is currently studying at Kansas City, Buffett said China is a country with great potential."China is an amazing economy, there's no question about that, and China's excising this kind of potential," Buffett said at the annual shareholders' meeting of Berkshire Hathaway.Buffett, CEO of Berkshire Hathaway, also emphasized that countries around the world do learn from each other.China may learn a few things from U.S. in its own development, but "they don't take everything we have," he said, adding that at the same time, countries like India and China are also helping improve U.S.The billionaire said he was full of hopes for emerging economies like India and China. "People in India and China will be living better lives in 20 years than today."

GOTEBORG, Sweden, March 28 (Xinhua) -- China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. here Sunday to acquire the U.S. auto giant's Volvo car unit.Under the definitive stock purchase deal, Geely will own 100 percent of Volvo Cars and its related assets.The agreement was inked by Li Shufu, founder and chairman of Geely, and Lewis Booth, chief financial officer of Ford, at a ceremony at the headquarters of Volvo in Goteborg, the second largest city of Sweden. Geely Chairman Li Shufu attends a press conference after the signing ceremony in Goteborg of Sweden, March 28, 2010. China's Zhejiang Geely Holding Group signed a deal with Ford Motor Co. here on Sunday on the takeover of Sweden's Volvo Cars.The ceremony was witnessed by Li Yizhong, China's minister of industry and information technology, and Maud Olofsson, Swedish deputy prime minister and minister for enterprise and energy.The agreement provides a solid foundation for Volvo to continue to build its business under Geely's ownership, said Booth at the ceremony."China, the largest car market in the world, will become Volvo's second home market. Volvo will be uniquely-positioned as a world-leading premium brand, tapping into the opportunities in the fast-growing China market," said Li.Geely has secured all necessary financing to complete the transaction, he said, adding that Geely intends to preserve Volvo Cars'existing manufacturing facilities in Sweden and Belgium, and explore opportunities to manufacture Volvo vehicles in China for the local market. Geely Chairman Li Shufu (FRONT L) shakes hands with CFO of Ford Motor Company, Lewis Booth (FRONT R) after signing a deal in Goteborg of Sweden, March 28, 2010. China's Zhejiang Geely Holding Group signed a deal with Ford Motor Co. here on Sunday on the takeover of Sweden's Volvo Cars.Li promised that Geely will maintain the strong collaborative relations that Volvo has built with employees, unions, suppliers, dealers and above all, customers.Volvo Cars will eventually become a separate company with its own management team based in Goteborg and a new board of directors, he told reporters after the ceremony.Volvo, which has about 22,000 workers around the world including 16,000 in Sweden, was purchased by Ford in 1999 for about 6.4 billion dollars.But Ford has been attempting to sell Volvo since late 2008, due to its poor market performance. Geely was named as the preferred bidder for the Swedish subsidiary in October 2009.Geely, which started to manufacture cars in 1998, is a major private automaker in China, with its headquarters based in southeast China's Zhejiang province. Geely Holding Group is the parent company of Geely Automobile Holdings.Besides Ford, some other Western auto giants are also seeking buyers in China. Beijing Automotive Industry Holdings has agreed to buy some powertrain technology from General Motors Co.'s Swedish Saab unit. 

BEIJING, June 2 (Xinhua) -- Monks across China on Wednesday chanted prayers for the victims of the earthquake that struck northwest China's Qinghai Province in April, exactly 49 days after the deaths, which according to Buddhist belief marks the start of the souls' reincarnation. Major temples of the three main schools of Buddhism in China all held prayer rituals for the about 2,700 victims killed in the 7.1-magnitude earthquake that hit Yushu on April 14, a statement from the Buddhist Association of China (BAC) said. About 1,000 Mahayana Buddhist monks attended the prayer session at Beijing's Guangji Temple led by Chuanyin, the BAC president, while the 11th Panchen Lama, the association's vice president, hosted another prayer session at the Lama Temple, an important Tibetan Buddhist temple in Beijing. In southwestern Yunnan Province, monks of Hinayana Buddhism gathered at the Zongfo Temple to pray. Other important temples in Shanxi, Zhejiang, Shanghai and Lhasa also held prayer rituals at the same time. The monks prayed for the victims' souls and for the survivors to overcome the hardships caused by the disaster. Xuecheng, BAC vice president and secretary general, presided over the prayer ritual at the Gyegu Monastery, the main temple in quake-hit Yushu. About 1,000 monks and local residents attended the prayer ritual at the massive cremation site for hundreds of Tibetan quake victims in Gyegu township. Many local residents arrived at the cremation site early in the morning, praying for the dead while turning prayer wheels. Some kowtowed in memory of the dead. "So many eminent monks and living Buddhas attended the prayer ritual and I believe my love is sure to enter the paradise," said Benma, who lost her husband in the quake. "Many good-hearted people have given us support and the monks have been praying day and night," she said. Xuecheng presented to local monks the 2.3 million yuan (338,000 U.S. dollars) raised by the BAC on April 16. According to the State Administration for Religious Affairs, religious circles had donated about 94.52 million yuan (13.72 million dollars) as of Tuesday, of which 70.45 million yuan came from Buddhists.

BEIJING, April 4 (Xinhua) -- With China's traditional holiday for honoring the dead falling on Monday, throngs of people jostle along the 2-km road in Liudaokou village, Tianjin Municipality, where more than 100 wholesale funeral supply shops compete for business."This urn is 170 yuan (24.9 U.S. dollars) wholesale, 1,000 yuan retail here. A retailer can sell it for 5,000 yuan in the city," says saleswoman Li Na, pointing at a plain red wood urn inscribed with two Chinese characters "bai fu", or a hundred blessings."It's easy money," says Li. "Take urns for example, no one wants to bargain for a container of his father, mother or whoever's ashes."In a country where about 10 million people die every year, the funeral industry market is worth tens of billions yuan, says Hao Maishou, a researcher with Tianjin Academy of Social Sciences.However, a lack of market standards and management is allowing unscrupulous business people to monopolize areas of the industry and exploit people's grief, Hao adds.URN PRICESIn another shop, tags claim that the urns, priced from 200 to 600 yuan, are made of rare and precious ebony or redwood, a claim that invites questions.Li says, "Of course they are not made of ebony or redwood, or they would not be so inexpensive, but if the urns were finely made and tagged with high prices, customers wouldn't doubt it."Wang Na, owner of Lingzhitang funeral supply shop, teaches a novice retailer to sell a 200-yuan urn for 5,000 yuan. "Say it's ebony, rosewood, redwood or whatever precious material and quote high. Customers like premium urns. They won't buy cheap ones."Elaborate funeral remains a traditional culture of the Chinese, as nobody wants to be regarded as stingy or unfilial on funeral issues, especially for deceased family members, says a Tianjin businessman involved in funeral service, who only identifies himself as Liu."As long as you understand and utilize such a feeling, you are guaranteed to make a pile," Liu says.At an urban Tianjin funeral home, a government-run facility that provides cremation and funeral services, an "ebony" urn bearing the traditional painting, Riverside Scene on Tomb-sweeping Day, sells for 12,800 yuan while the same urn costs only 1,100 yuan in Liudaokou.A plain-looking urn inscribed "Always remembered" in Chinese characters is priced at 10,000 yuan. Urns of the same inscription, materials and shape sell for 180 yuan in Liudaokou.

BEIJING, April 27 (Xinhua) -- The Chinese government announced Tuesday the lifting of the 20-year-old ban on entry for foreigners with HIV/AIDS, sexually transmitted diseases and leprosy.According to a statement released Tuesday by the State Council, after gaining more knowledge about the diseases, the government has realized that such ban has a very limited effect in preventing and controlling diseases in the country. It has, instead, caused inconvenience for the country when hosting various international activities.The revision comes days ahead of the opening of the Shanghai World Expo. The government temporarily lifted the ban for various large-scale events, including the 1990 Beijing Asian Games, the Fourth World Conference on Women in 1995 and the 2008 Beijing Olympics.Mao Qun'an, spokesman for the Ministry of Health, said the groundwork for the lifting of the ban began years ago. The ministry had been advocating lifting the restriction since the Beijing Olympic Games. It took a few more years only because of the necessary procedures.The two decisions altered regulations for the Border Quarantine Law and the Law on Control of the Entry and Exit of Aliens, which set down the ban in the 1980s.The previous ban was made in accordance with the "limited knowledge about HIV/AIDS and other diseases," the statement said.Zhang Beichuan, a medical professor with Qingdao University and a front-runner in advocating the rights of people living with HIV (PLWHIV), said it's the move is huge progress."Previously, China viewed HIV/AIDS as an imported disease related to a corrupted lifestyle. But now the government handles it with a public health perspective," he said.He Tiantian, a woman in her 30s living with HIV and an AIDS activist, said, "This revision shows us a silver lining, because we have been advocating for the rights of PLWHIV for years, and now we know we didn't do it in vain.""However, it still takes time to end discrimination, but the change in the government's stance will help change the public's attitude towards this group of people," she added.According to the health ministry, the estimated number of people living with HIV in China had reached 740,000 by October 2009, with deaths caused by AIDS totalling 49,845 since the first case was reported in 1985.The statement said the lifting of the ban won't bring an outbreak of disease in the country as scientific research has proved daily contact doesn't cause infection.HIV/AIDS is usually transmitted through blood, sex and from mother to infant. Leprosy is usually transmitted through skin injuries.Meanwhile, the government also narrowed the restrictive scope for mentally ill and tuberculosis patients to only "severe mental patients" and those with infectious tuberculosis.According to the statement, not all tuberculosis diseases are infectious and mental patients won't harm the country's social order and personal safety.Statistics show that currently 110 countries and regions around the world have no ban on entry for HIV/AIDS carriers. The United States and Republic of Korea both lifted the ban in January.