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BEIJING, May 18 (Xinhua) -- Former chairman of Chinese electronics retailer giant Gome Huang Guangyu was sentenced to 14 years in prison by a Beijing court Tuesday morning over illegal business dealings, insider trading and bribery. File photo of Huang Guangyu.

URUMQI, May 11 (Xinhua) -- Turpan, a small Silk Road town in northwest China that became prosperous as a trade hub nearly 2,000 years ago, is earning renown for another reason today.In accordance with the plans of the National Development and Reform Commission, and the National Energy Administration, the Turpan city government has been required to build an 8.8-square-km area into a national model for green city development.Designed to be a model environmentally-friendly city in western China, the new low-carbon city depends not on fossil fuels but solar and wind energy for lighting and hot water supply.It also uses geothermal resources for winter heating and summer cooling, as well as employing electric buses and taxis with zero pollutant for public transport.Wang Guangtao, chairman of the Environment Protection and Resources Conservation Committee of the 11th National People's Congress, expects the project to be valuable for "the strategic adjustment of China's energy consumption structure.""It is the first experimental project in China's arid western interior to develop energy-efficient and pollution-free cities. It will set an example for the use of new and clean energy," he said.With 3,200 hours of sunshine per year, about 1,000 hours more than other Chinese regions at the same latitude, Turpan is rich in solar energy.Project designer Zhu Xiaodi, chief of the Beijing Institute of Architectural Design (BIAD), said the new city aims to make full use of its advantages in solar energy to change the pattern of electricity generation away from the conventional energy supply mode dominated by coal-fired power plants.A photovoltaic power generation plant with installed capacity of 13 megawatts will be built to supply electrical power for the area's residents, to illuminate public facilities and to drive public transportation vehicles, Zhu said.Given China's economic expansion has heavily relied upon coal, which has provided 70 percent of the country's primary energy, much higher than the world average of 29 percent, local authorities hope the Turpan experiment will be a viable way for the country's vast western interior to improve energy use and reduce pollution.Apart from solar energy, the city is also exploring the use of wind power and geothermal resources for public transportation.Memet Kurban, an official at the project's command center, said solar panels would be installed on the rooftops of all buildings in the new city to generate electricity and heat water.The number of private cars will be reduced to the least number possible while solar energy storage batteries will be used to power buses and taxis.Special heat-pump technology is used to make use of shallow geothermal resources in the area.Vice Major Su Tiancheng said a planned population of 60,000 will move into the new city. By the end of the year, 7,000 residential apartments with a combined floor space of 700,000 square meters will have been built, and local government authorities and enterprises are expected to move in.The first-phase of the construction, which began last Wednesday. involved the construction of municipal infrastructure, residential buildings, public utilities and a central water park.A special team made up of experts from BIAD, the International Eurasian Academy of Science, the Solar and Wind Evaluation Center of the China Meteorological Administration and the Guangzhou Urban Planning and Designs Institute are responsible for the overall design of the new city.

BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

BEIJING, June 3 (Xinhua) -- Revised regulations on internal management, discipline and formation regulation of the People's Liberation Army (PLA) are issued Thursday to further advance the army's development and modernization.Chinese President Hu Jintao, also Chairman of China's Central Military Commission, recently signed an order to promulgate and enforce the three regulations.Unlike the previous version, the revised regulation on internal management adopted provisions on psychological counselling to armymen and provisions on their use of mobile phones and the Internet.It also modified a wide range of provisions covering oath, dress and bearings, as well as confidentiality rules, security systems and financial management.The three revised regulations are to come into force from June 15 this year.

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. 

来源：资阳报