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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, June 22 (Xinhua) -- China's Ministry of Public Security has vowed to crack down on domestic and foreign online gambling organizations as a number of football gambling web sites were discovered online following the start of the World Cup in South Africa."Currently, police departments at all levels should focus on the World Cup and keep close watch on domestic and foreign online gambling groups. Dig deep for the violators behind them, seize evidence and give a hard blow to online football gambling," urged vice minister Huang Ming at a meeting Tuesday.Figures from the ministry show that Chinese police shut down 1,461 foreign gambling web sites in less than one week after the start of the 2010 World Cup."Gambling, drugs and prostitution are still rampant in some areas, causing civilians to issue strong complaints... In some places, these wrongdoings have even been conducted in board daylight." Huang added.According to Huang, law enforcement agencies at all levels will focus on entertainment venues that host prostitution, obscene performances, group gambling and drug trafficking, and violators will be severely punished.The ministry also ordered law enforcement agencies to strictly monitor local police and punish those who are slack in stopping these illegal activities in their own regions.Also at the meeting, the ministry announced a nationwide campaign on the control of guns, scheduled to end this September, in a bid to prevent gun-related crimes. E

BEIJING, June 23 (Xinhua) -- Chinese President Hu Jintao left Beijing for Canada Wednesday afternoon to pay a state visit to the country and attend the fourth Group of 20 (G20) summit scheduled for June 26-27 in Toronto.Hu is invited by Canadian Governor-General Michaelle Jean and Prime Minister Stephen Harper.At this summit, G20 leaders will discuss ways to consolidate the recovery of the world economy and the reform of the international financial system in the aftermath of the global financial crisis.
XI'AN, July 3 (Xinhua) -- Three workers were killed Saturday after a towering crane collapsed at a school building construction site in northwest China's Shaanxi Province, according to local authorities.The accident happened around 1 p.m. when five people were working on the crane at the Shangluo Vocational and Technical College in Shangluo City, said a spokesman with the provincial emergency response office.The operator of the crane and two workers died after falling about 30 meters, while two other workers survived the accident by climbed down from the tower, said the spokesman.Another worker who suffered minor injuries was receiving treatment at hospital, he said.The cause of the accident is under investigation.
YUSHU, Qinghai, July 23 (Xinhua) -- The Gross Domestic Product (GDP) of the quake zones in China's far northwestern Qinghai Province would be quadrupled by 2015 on the basis of that of last year, Luo Huining, governor of the province said here Friday."By the end of China's 12th Five-Year Plan (2011-2015), the GDP in Qinghai quake zones would reach four times as much as that of 2009, with the service industry accounting for 45 percent of it," Luo said during an exclusive interview with Xinhua, exactly 100 days after a 7.1-magnitude earthquake struck Yushu in April.The earthquake left 2,698 people dead and 270 missing.Luo said local authorities would focus on improving public services and promoting urbanization of the quake zones during the reconstruction phase.According to Luo, authorities would try to help all farmers and herdsmen in the region settle down within three years, upgrade their housing facilities, and provide them with basic access to safe drinking water."By the end of this year, local government would invest 5.55 billion yuan to rebuild 80 percent of farmers' houses in the quake zones," Luo said. Total investment in housing reconstruction in the regions would reach 9.6 billion yuan within three years.
来源:资阳报