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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. 

WELLINGTON, May 17 (Xinhua) -- Visiting General Guo Boxiong, vice-chairman of China's Central Military Commission, met Monday here with New Zealand Prime Minister John Key, and both sides pledged further efforts to promote military cooperation.Although China and New Zealand are far apart geographically, the two countries have been very friendly to each other, Guo said.Bilateral ties have developed rapidly with frequent high-level visits, enhanced cultural and humanitarian exchanges, and closer economic cooperation, Guo said.He also hailed the increase of two-way trade volume between China and New Zealand in the wake of the global financial crisis, and said that New Zealand was the first Western country to sign a free trade agreement with China.In recent years, the two countries have been developing their military-to-military relations in an active manner under the principles of mutual respect, mutual trust, equality and mutual benefit, said Guo, adding that exchanges were also held in such areas as group visits, negotiations and talks, as well as personnel training.

UNITED NATIONS, April 21 (Xinhua) -- China's national flag on Wednesday was flying at half-mast at its permanent mission to the United Nations to mourn Yushu earthquake victims.In a solemn ceremony at the mission's residence in New York, the entire mission staff and some staff members of Xinhua News Agency observed a minute of silence to mourn the victims of the 7. 1-magnitude earthquake in northwest China's Qinghai Province.Chinese Ambassador Li Baodong told reporters that after the earthquake, the international community has extended sympathies and condolences to the Chinese government and people, and expressed support for and spoken highly of the government's swift and effective earthquake relief efforts.In their letters to Chinese President Hu Jintao, UN Secretary- General Ban Ki-moon and UN General Assembly President Ali Abdussalam Treki highly commended the Chinese government for its timely and effective measures in the earthquake relief process, Li said.The UN leaders also expressed deep admiration for Hu and Premier Wen Jiabao's decision to shorten overseas itinerary or postpone planned visits to join the people in the quake zone, Li said.The representatives of many other countries' missions to the UN, as well as the heads of some international organizations, also expressed their sympathies and support for China, he noted.The Chinese staff working at the United Nations also made sympathy calls and offered donations to support disaster relief effort, the Chinese ambassador added.

BEIJING, April 1 (Xinhua) -- Chinese Premier Wen Jiabao has pledged to further reform of income distribution to narrow the gap between rich and poor and secure social stability.In an article published Thursday in Qiushi, or "Seeking Truth," the official magazine of the Communist Party of China (CPC) Central Committee, Wen said greater efforts were needed to build a rational income distribution structure."If the income gap continues to widen, it will pose a major threat to our economic development and social stability," Wen wrote. "We are poised and capable of gradually resolving this problem with a sound momentum of economic and social development and greater sustainability in various fields."Complaints have been growing about how the income growth of many Chinese was lagging behind the rise in state fiscal revenue. Low incomes have been blamed for dragging down consumer spending."We will not only make the 'pie' of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system," Wen wrote.

BEIJING, June 2 (Xinhua) -- China's disaster relief authorities Wednesday launched an emergency response plan to help victims of the rainstorms and flooding in south China's Guangxi Zhuang Autonomous Region, which has left at least 30 dead.The China National Committee for Disaster Reduction and the Ministry of Civil Affairs initiated a level IV emergency response plan and dispatched a working team to help guide relief work in the flood-hit zone.Heavy rains began pounding many places in Guangxi Monday and triggered landslides early Wednesday. The disaster has left 30 dead and 18 missing, according to latest official figures.Villagers carry their belongings in the flood at Shanglang Village of Gupeng Township in Xincheng County in south China's Guangxi Zhuang Autonomous Region, June 2, 2010.More than 80,000 local people had been evacuated from their homes as of 7 p.m. Wednesday, said a notice on the ministry website.More than 2.1 million people in Guangxi were affected by the disaster and more than 4,200 homes had been damaged, the notice said.The ministry had allocated a batch of relief materials, including 2,000 tents, the notice said.Guangxi's regional civil affairs department also initiated a level-IV emergency response plan Wednesday noon, allocating 1,200 tents and 1,000 cotton quilts to help settle victims.Under a level IV plan, the lowest of the four responses, the committee and the ministry should send a working team within 24 hours to the disaster zone and allocate relief materials within 48 hours.According to the ministry's working regulation on emergency response issued last year, emergency response plans should be initiated to help with relief work in natural disasters across the country. The level depends on damages and losses as well as the number of affected people.

来源：资阳报