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STOCKHOLM, Oct. 28 (Xinhua) -- China's Geely Automobile on Wednesday have been confirmed as preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.     Ford said while it would be engaging in more detailed and focused negotiations with Geely, no final decisions have been made, reported the Swedish news agency TT.     Ford believes Geely has the potential to be a responsible future owner of Volvo and to take the business forward while preserving its core values and the independence of the Swedish brand. "We have no specific timeline to conclude the discussions," a statement of Ford was quoted as saying by TT.     It also pointed out that Ford would continue to cooperate with Volvo in several areas after a possible sale, Ford said it does not intend to retain a shareholding in Volvo.     "Ford's objective in our discussions with Geely is to secure an agreement that is in the best interests of all the parties," Lewis Booth, executive vice president and chief financial officer of Ford Motor Company, said in the statement.     "Any prospective sale would have to ensure that Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement our core ONE Ford strategy," Booth added.     "Volvo's management team welcomes today's announcement as a positive step forward," Volvo CEO Stephen Odell said.     "At Volvo, we are continuing to keep our attention firmly fixed on engineering and building great Volvo cars, to reduce our cost base and to return the business to sustainable profitability at the earliest possible opportunity," he added. 

SHANGHAI, Nov. 16 (Xinhua) -- Visiting United States President Barack Obama said on Monday he would discuss economic recovery, climate change and stopping the spread of nuclear weapons in his talks with Chinese President Hu Jintao.     He made the remarks at the Shanghai Science and Technology Museum during his first trip to China since taking office in January. U.S. President Barack Obama delivers a speech at a dialogue with Chinese youth at the Shanghai Science and Technology Museum during his four-day state visit to China, Nov. 16, 2009.    Other key issues he would talk about with Hu included the development of clean energy and the promotion of peace and security in Asia, he said during a dialogue with Chinese youths.

BEIJING, Jan. 8 (Xinhua) -- China issued a directive Friday that aims to promote renovation of the substandard dwellings in the country's urban areas and at state-owned factories and mines, in a move to improve the livelihood of low-income people.     Renovation of squatter homes in cities and at state-owned factories should be completed in the next fives years, according to the directive posted by the Ministry of Housing and Urban-Rural Development on its website.     Priority should be given to "the shanty towns covering large areas and with severe safety defects," according to the ministry.     It also urged relevant departments to give full respect to the rights and interests of the people living in substandard dwellings, who are mainly low-income laid-off workers, and to ensure that renovating work be conducted in an open and fair way.     The directive put forward multiple ways to finance the renovation work, including government funds, favorable loans from financial institutions, and tax rebates.     By the end of 2008, China had 11.48 million families living in substandard housing, 7.44 million of which lived in cities, 2.38 million near state-owned plants and mines, 1.66 million in forest zones and reclamation areas.

BEIJING, Nov. 13 (Xinhua) -- China's top political advisor Jia Qinglin on Friday attended a gathering marking the 60th anniversary of the founding of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference (CPPCC).Photo taken on Nov. 13, 2009 shows a conference to celebrate the 60th anniversary of the founding of the Beijing Municipal Committee of the Chinese People's Political Consultative Conference (CPPCC) is held in BeijingThe municipal committee was the first local CPPCC committee in the country. It has made great contributions to the capital's economic development and modernization drive in the past 60 years.

BEIJING, Dec. 28 (Xinhua) -- Chinese Premier Wen Jiabao Monday asked auditors to keep a close eye on public investment projects to help avoid embezzlement and waste of public funds.     Jerry-built projects and vanity projects should be strictly forbidden with the help of closer follow-up scrutiny of public funds, said the premier in a meeting with participants at a national auditing conference.     The National Audit Office (NAO) statistics showed that altogether 234.7 billion yuan (34.51 billion U.S. dollars) of public funds have been misappropriated and 16.3 billion yuan wasted during the first 11 months this year. Chinese Premier Wen Jiabao (C, front), also a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, shakes hands with one of participants of the National Audit Work Conference and the Commendatory Convention for Outstanding Audit Units and Auditors, at the Great Hall of the People in Beijing, Dec. 28, 2009    Wen urged auditors to strengthen budget enforcement auditing in order to guarantee an open and transparent fiscal budget for governments at all levels.     The premier said that auditing should shoulder the responsibility of safeguarding the country's economic security by detecting possible risks in economic operations. As for now, special attention should be paid to fiscal and financial risks, he said.     He also called for giving full play to the role of auditing in the fight against corruption and severely cracking down on corruption.     China carried out audit among more than 20,000 government officials including provincial level cadres and bosses of large state-owned enterprises this year. Cases involving 67 senior officials and 164 others were handed over to judicial authorities, said the NAO.

来源：资阳报