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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, July 5 (Xinhua) -- Premier Wen Jiabao said here Monday that China regards India as an important strategic partner of cooperation."We will work with India to maintain high level visits and take care of each other's core interests and major concerns," Wen said when meeting visiting Indian prime ministerial special envoy Shiv Shankar Menon.Wen also pledged to enhance dialogue and cooperation with India to benefit the two peoples, and make joint efforts to promote world peace and common prosperity.Hailing the 60-year diplomatic ties between China and India, Wen said the bilateral relationship has matured well, with deepening mutual political trust and remarkable achievements in cooperation in various sectors.Chinese Premier Wen Jiabao (1st R) meets with visiting Indian prime ministerial special envoy Shiv Shankar Menon (1st L), who served as Indian National Security Advisor, in Beijing, capital of China, on July 5, 2010.The two countries have also reached important agreements and made sound coordination in coping with the international financial crisis, climate change and other major issues, Wen noted.Wen said China and India, as neighbors and large developing nations with largest populations, enjoy not only profound historical and cultural origins but also broad common interests."A healthy, stable and dynamic China-India relationship is of far-reaching significance to the two nations, Asia and the whole world at large," he said.Wen also extended greetings to Indian Prime Minister Manmohan Singh and the President of the Indian Congress Party Sonia Gandhi.Menon, who serves as Indian National Security Advisor, delivered Prime Minister Singh's letter to Premier Wen.Menon quoted Singh's saying that China is a great and friendly neighbor of India, and the relationship with China is one of the most important foreign relations for India.Both India and China have developed rapidly in recent years, and the two nations have established a strategic partnership of cooperation, with increasing mutual trust. Menon said this has laid a sound foundation for strengthening bilateral cooperation.With the world going through an important development phase, both India and China should take bigger role in directing its course, Menon said.India would work with China to jointly make development planning and create new situations for the growth of bilateral ties, he noted.Menon arrived in Beijing Saturday, and is scheduled to conclude his trip on July 6.

NEW YORK, June 10 (Xinhua) -- The U.S. House of Representatives has passed a bill to recognise Nanjing City of China as a "Model for International Cooperation" in order to award the city's active involvement in cooperation with the United States in education, innovation and entrepreneurship, and this was the first Chinese city to win such an award, Li Jiansheng, executive chairman of the U.S.-China Partnership Committee, told Xinhua on Thursday.The House passed the bill, tabled by Representative John Tierney of Massachusetts, on Tuesday night, Li said, adding that this will pave the way for further cooperation between China and the United States in education, innovation and entrepreneurship, which are very conducive to build a stronger China in the future."I rise today to speak about a model for international cooperation that is said to hold promise and future opportunities for the United States," Tierney said when he was taking the floor at the House. "The City of Nanjing is working to improve the quality of life of its residents with a global initiative that has potential to create a great opportunity for some in the United States."For over a decade, Nanjing "has reached beyond the borders of the People's Republic of China to create new strategies in education, innovation and entrepreneurship, increasing the level of understanding between our two nations and stimulating U.S.- China idea exchange," he said."It is expected that this international cooperative initiative will inure to the benefit of the residents of Nanjing as well to the residents of the United States, including businesses, residents and educational institutions in the Commonwealth of Massachusetts," he said.Nanjing, capital of Jiangsu Province in East China, has forged close ties of cooperation and partnership with Boston and Massachusetts in 2008. The city government has hammered out a series of programs to lure top talents from overseas."This is the first time for the U.S. Congress to recognize a model for a Chinese City for the partnership in entrepreneurship innovation, technology and education," Gene Hartigan, co-chairman of the U.S.-China Partnership Committee, told Xinhua on Thursday."This will get great attention from leaders in Washington D.C. and become the model for cooperation in the future between the U.S. and China in partnership in these areas," he said. "Currently the US and Chinese government have a platform called Strategic and Economic Dialogue. This statement approved by congress will create a new dialogue in innovation and entrepreneurship between the US and China."

CHANGZHOU, Aug. 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Saturday called for more favorable policies to encourage the construction of affordable housing.Li made the remarks at a meeting on affordable housing held in Changzhou city of east China's Jiangsu Province.He reiterated that China would complete construction of 5.8 million units of affordable housing, including low-rent housing, public rental housing and resettlement housing for relocated residents from redeveloped urban shanty towns.In May, the Ministry of Housing and Urban-Rural Development signed an agreement with local governments nationwide to build 5.8 million units of affordable housing."Meanwhile, measures should be taken to increase the supply of commercial housing to meet people's reasonable needs of housing consumption," he said.He said local governments should adopt a realistic approach to affordable housing construction and plans should be based upon local needs.For populous cities, construction should focus on public rental housing that provides homes for low- and medium-income families, newly-employed school graduates and migrant workers, he said.

BERN, SWITZERLAND, July 17 (Xinhua) -- Parliamentary leaders of China and Switzerland on Saturday exchanged views on bilateral ties, parliamentary exchanges and mutual concerns and agreed on closer exchanges between legislative bodies of the two nations for better Sino-Swiss ties.Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), expressed satisfaction over the significant progress in Sino-Swiss relationship during the recent years at a meeting with Pascale Bruderer, president of the National Council of Swiss Federal Assembly, and Erika Forster- Vannini, president of the Council of States of Swiss Federal Assembly.The development of Sino-Swiss relationship has brought substantial interests to both people and China looks forward to working together with Switzerland to further develop the comprehensive friendship and mutual-beneficial cooperation, Wu said. Switzerland is China's main trade partner in Europe and a major source of foreign investment and technology and China is Switzerland's second largest trade partner in Asia.Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Pascale Bruderer (R), president of the National Council of the Swiss Federal Assembly, and Erika Forster-Vannini (L), president of the Council of States of the Swiss Federal Assembly, in Bern on July 17, 2010.Wu appealed that both sides should properly deal with sensitive issues between the two nations to maintain the momentum of the Sino-Swiss relationship. He suggested that China and Switzerland should take more actions to continuously deepen mutual political trust, expand economic cooperation and people-to-people exchanges.The friendly exchange and cooperation between legislative bodies of China and Switzerland will help promote an all-round development of the bilateral ties and are in interest of both people, Wu said.The NPC will work together with the National Council of Swiss Federal Assembly and the Council of States of Swiss Federal Assembly to conduct various exchanges between the two nations' legislative bodies, he added.Bruderer and Vannini said Wu's visit will further promote the Sino-Swiss ties and offer an opportunity for more exchanges between the two nations' legislative bodies. They agreed to conduct closer parliamentary exchanges with China.A further development of Swiss-Chinese ties is interest of Swiss government, legislative bodies and people. The legislative bodies of Swiss will positively push forward the substantial cooperation with China in all areas, they said.