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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, April 2 (Xinhua) -- Leaders of seven countries have confirmed their participation in the opening ceremony of Boao Forum for Asia's 2010 meeting in south China's Hainan Province on April 10, Foreign Ministry spokesman Qin Gang said Friday.The leaders are: Lao President Choummaly Saygnasone, Danish Prime Minister Lars Loekke Rasmussen, Mongolian Prime Minister Sukhbaataryn Batbold, Iranian First Vice President Mohammad Reza Rahimi, Afghan Vice President Mohammad Karim Khalili, Timor-Leste's Vice President Jose Luis Guterres and Cambodian Senior Minister and Minister of Planning Chhay Than.Qin said Chinese Vice President Xi Jinping will meet the foreign leaders on the sidelines of the forum.The forum, which will focus on Asia's green and sustainable development in the wake of global economic downturn, is to be held in Boao, a coastal resort in Hainan, from April 9 to 11.Danish Prime Minister Lars Loekke Rasmussen will also pay a working visit to China as guest of Chinese Premier Wen Jiabao, Qin said.

BEIJING, June 8 -- South China's Guangdong province has taken the lead in the country by introducing a new accumulating points system to grant urban hukou, or household registration, to migrant workers.The province plans to attract 1.8 million migrant workers to become urban residents via the points accumulation system before the end of 2012, according to Lin Wangping, deputy director-general of the Guangdong provincial bureau of human resources and social security."In addition to helping speed up the province's urban construction, the accumulating points system aims to let more migrant workers share in the province's economic growth achievements together with urban residents and help build a harmonious society," Lin said at a press conference on Monday."Guangdong encourages more farmer-workers to settle down in cities and become urban residents in the upcoming years," she said.Guangdong aims to achieve an urbanization target of 67.5 percent by the end of 2012.And mass events and social conflicts will be avoided or reduced in the years ahead when the province's large number of farmers-turned workers can enjoy the same social treatment as their urban counterparts, she said.Currently, farmers and migrant workers cannot enjoy the same treatment as their urban counterparts in employment, education, medical treatment, social security and related fields in the society.

BRASILIA, April 14 (Xinhua) -- Chinese President Hu Jintao arrived in Brasilia on Wednesday for a summit of Brazil, Russia, India and China slated for Thursday and Friday, and a state visit to the Latin American state.At the summit of the four countries -- collectively known under their acronym BRIC, the leaders will discuss the global economy and financial situation, reform of the international financial system, climate change and cooperation among the four countries, Chinese diplomats said.President Hu has chosen Latin America as the destination of his first overseas trip so far this year. His visit to Brazil, Venezuela and Chile is seen as an important move to enhance ties between China and Latin American countries.Chinese President Hu Jintao (L, front) is greeted by Brazilian senior officials upon his arrival in Brasilia, capital of Brazil, April 14, 2010. Chinese President Hu Jintao arrived in Brasilia on Wednesday for a summit of Brazil, Russia, India and China slated for Thursday and Friday, and a state visit to the Latin American state. In a statement released upon his arrival at the airport, Hu said his visit aimed to enhance political trust, expand strategic cooperation and advance the China-Brazil strategic partnership to a higher level.Hu said both China and Brazil are working to maintain world peace and promote common development.Hu said under the joint effort of both sides, political trust between the two countries have been deepened as cooperation in various fields bear rich fruits. The two countries have cooperated closely with each other on international affairs and joined efforts to safeguard the interests of developing countries.

BEIJING, May 24 (Xinhua) -- A senior official of the Communist Party of China (CPC) here on Monday called for China and Europe to further promote common development.Li Changchun, member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks at the opening ceremony of the first-ever China-Europe High-Level Political Party Forum in Beijing.China and Europe's common interests have increased to an unprecedented level in a new era of great development, change and adjustment, Li said, putting forth a four-point proposal to further strengthen China-Europe party to party dialogue and to seek common development. Li Changchun (1st L), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, addresses the China-Europe High-Level Political Parties Forum in Beijing, China, May 24, 2010. The forum was opened here on Monday. Li said, China and Europe should carry out in-depth exchanges on global challenges and major international issues to build a harmonious world of lasting peace and common prosperity.Li also called on both sides to discuss openly about issues and challenges concerning the similarities in their state governance and communicate actively on political party building.He said he believed that the forum could help deepen mutual understanding and trust between the CPC and European political parties and promote China-Europe comprehensive and strategic cooperation.Li also talked at the opening ceremony about China's program for tackling financial crisis.The China-Europe High-Level Political Party Forum is scheduled for May 24-25 with the theme "Global Challenges and China-European Cooperation." Chinese officials from the International Department of the CPC Central Committee, Foreign Ministry, Ministry of Commerce, the National Development and Reform Committee as well as over 50 leaders and senior officials from various European political parties attended the opening ceremony.