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BEIJING, Aug. 18 (Xinhua) -- Chinese President Hu Jintao met here Wednesday with Singapore President S.R. Nathan. They praised the development of bilateral ties and pledged to further cooperation."We attach great importance to the relations with Singapore," Hu told Nathan during the meeting at the Great Hall of the People, saying that China-Singapore relations had witnessed remarkable development since the two forged diplomatic ties 20 years ago."We applaud Singapore's adherence to the one-China policy and its support to our national reunification," Hu said.Hu said that China would work with Singapore to enhance political mutual trust and actively carry out the China-Singapore and China-ASEAN (the Association of Southeast Asian Nations) free trade agreements.He also expressed his hope that the two nations would increase bilateral cooperation in the high-tech and human resources sectors to achieve mutually successful results and common development.Nathan said China's economic growth was conducive to Singapore and the region at large. He welcomed more Chinese businesses to invest in his country and conduct mutually beneficial cooperation.The two presidents spoke highly of the development of the Suzhou Industrial Park and the Tianjin Eco-City in China as landmark projects of China-Singapore cooperation.Speaking on behalf of the Singaporean government and people, Nathan extended his sympathy to the Chinese people in the mudslide-hit areas in Zhouqu County in Gansu.

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, Aug. 13 (Xinhua) -- The state-owned assets in China's centrally-administered state-owned enterprises (SOE) reached 2.01 trillion yuan (297.40 billion U.S. dollars) by the end of June, up 10.71 percent from 2008, China's state-owned assets regulator said on Thursday.Nearly a quarter of the SOEs have state-owned assets over 10 billion yuan each, while six have state-owned assets over 100 billion yuan, the State-owned Assets Supervision and Administration Commission said in a statement on its website."China's state-owned capital has been flowing towards big companies with international competitiveness," said the statement.Some 30 central SOEs are listed as Fortune 500 companies. They are in sectors such as telecommunications, power generation and petro-chemicals.The number of China's central SOEs is 123 in August this year, down from 196 at the beginning of 2003.

BEIJING, Aug. 26 (Xinhua) -- Chinese senior legislator Chen Zhili on Thursday called for preferential policies in taxation for enterprises using cleaner production methods to promote their competitiveness.Chen, vice chairwoman of the National People's Congress (NPC) Standing Committee, made the remarks during her report on an inspection on the enforcement of the Cleaner Production Promotion Law.Favorable policies and funding provided in the law had been poorly implemented, and that had impaired the enterprises' initiative in achieving cleaner production, Chen said.Chen said statistics gathered during the inspection did not provide reasons to be optimistic. During the period from 2003 to 2009, only 0.15 percent of the enterprises nationwide had integrated the cleaner production review into their operations.Chen also noted the serious situation of excessive packaging used in protecting products.Statistics revealed that China had been consuming 40 million tonnes of wrapping materials annually, and the bulk of this was used for extravagant packaging, Chen said.Future policies should make detailed provisions on requirements of enterprises eligible for such tax preferences, and those enterprises, which had made outstanding efforts in cleaner production, should be rewarded, Chen said.Chen also urged streamlining the task assignments among different governmental departments in law enforcement and promote the government's supervisory responsibilities.

BEIJING, July 10 (Xinhua) -- China's trade surplus fell by 42.5 percent in the first six months this year from a year earlier to 55.3 billion U.S. dollars, the General Administration of Customs (GAC) said Saturday.In the first half of 2010, exports rose 35.2 percent to 705.09 billion dollars while imports were up 52.7 percent to 649.79 billion dollars, the GAC said in a statement posted on its official website.China's foreign trade in the first half totaled 1.35 trillion dollars, a year-on-year increase of 43.1 percent, after the country saw its June exports and total trade both reach record highs, the GAC said.In June, exports were up 43.9 percent to 137.4 billion dollars while imports were 117.37 billion dollars, up 34.1 percent year on year, resulting in a total trade value of 254.77 billion dollars, the GAC said.The June exports increased 4.3 percent from May and the imports were 4.6 percent higher from the last month, according to the statement.However, the pace of growth in exports and imports were both slower than in May when exports surged 48.5 percent and imports jumped 48.3 percent from a year earlier.Bi Jiyao, a senior researcher with the research institute under the National Development and Reform Commission, said the strong figures partly stemmed from the low comparison base last year.In the first half of 2009, China posted a 23.5-percent decline in total trade, with exports and imports down 21.8 percent and 25.4 percent respectively, according to the GAC data.More importantly, the strong performance of China's trade was attributable to the recovery of the world economy and China's deepening economic ties with other emerging markets, said Bi.Trade between China and the European Union rose 37.2 percent in the first half of this year to 219.42 billion dollars from the previous year, while trade with the United States grew by 30.2 percent to 171.99 billion dollars, the GAC said.China's trade with Japan also saw rapid growth, hitting 136.55 billion dollars, up 37 percent from a year earlier, and Japan became China's third largest trade partner as a result, the GAC data showed.China also saw booming trade with many emerging markets in the first six months this year.Trade between China and the Association of Southeast Asian Nations (ASEAN) climbed by 54.7 percent to 136.49 billion dollars, and China-Brazil trade jumped 60.3 percent to 26.39 billion dollars, said the GAC statement.Besides sound growth, China's trade pattern was also becoming more balanced with the gap between imports and exports narrowing, Bi said.In the first half this year, China's trade surplus shrank by 42.5 percent from the same period last year, after it recorded a surplus of 196.1 billion dollars in 2009, down 34.2 percent from 2008.Bi Jiyao said China's export growth would not be able to maintain such a high rate of growth as the comparison base was very low for the first half in 2009 when the world economy was struggling amid the financial crisis.Echoing Bi, Zhang Xiaoji, a senior researcher with the Development Research Center of the State Council, anticipated China's trade surplus this year would be reduced by 20 billion dollars from the 2009 level.From January to June this year, China recorded a trade deficit of 26.33 billion dollars with Japan, as imports from Japan rose 46.3 percent, compared with a 25.2-percent exports growth, and the deficit grew by 130 percent from the same period last year, the GAC said.China's trade deficit with Brazil stood at 5.75 billion dollars, and its deficit with the ASEAN countries widened to 7.29 billion dollars, compared with 600 million dollars registered for the whole year of 2009.China's imports were growing faster than exports, indicating that China's stable economic development was helping the world economy to recover while many countries were resorting to exports growth as a major tool to achieve economic recovery, Zhang Xiaoji said.