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PARIS, July 9 (Xinhua) -- China Changan Auto Group Corporation (CCAG) and French leading carmaker PSA Peugeot Citroen signed a contract Friday here on the creation of an equally owned joint venture in China.The contract was signed by Xu Bin, president of China South Industries Group Corporation, Changan's main shareholder, and Philippe Varin, chairman of the French part's Managing Board, at a ceremony attended by Wu Bangguo, chairman of the Standing Committee of the National People's Congress, Bernard Accoyer, president of the National Assembly of France.Their initial cooperation will focus on introducing the Citroen DS line in China and launching a dedicated new brand for the venture, the two companies said in a joint statement.The contract also allows for the joint venture to market, at a later date, further vehicles under the partners' other brands, Peugeot and Changan, they said.Based in Shenzhen, southeast of China, the joint venture will have initial annual production capacity of 200,000 vehicles and engines, which will meet the highest environmental standards. The contract also outlined two production lines, a specific range of vehicles by each side and a research and development center.The new joint venture will be capitalized at RMB 4 billion yuan (590 million U.S. dollars), to be shared equally by the two partners, and backed by an initial investment of RMB 8.4 billion yuan (1.24 billion dollars).The first vehicle is scheduled to be launched in second-half 2012, provided the joint venture is finally approved by the relevant authorities, the statement concluded.

BEIJING, July 6 (Xinhua) -- China's Ministry of Finance and the Ministry of Civil Affairs on Tuesday jointly sent 377 million yuan (55.2 million U.S. dollars) to four southern provinces which had been battered by rainstorms and consequent floods.The funds will be mainly used for the evacuation and resettlement of affected local people and the rebuilding of damaged houses in the provinces of Zhejiang, Fujian, Jiangxi and Hunan, said a statement released Tuesday by the Ministry of Civil Affairs.Figures from the ministry show that around 260 people have been killed and 211 left missing in 11 provinces since rainstorms hit south China on June 13.More than 3.8 million people were evacuated and relocated due to floodwater, which also destroyed 312,000 homes and resulted in direct economic losses reaching 64.57 billion yuan (about 9.49 billion U.S. dollars).As of Tuesday, the two ministries have allocated a total of 867 million yuan for eight southern provinces and autonomous regions for flood relief.

TORONTO, Canada, June 27 (Xinhua) -- Chinese President Hu Jintao laid out on Sunday a three-point proposal for promoting a strong, sustainable and balanced global economic growth, calling for joint efforts of the international community for global economic recovery.While addressing the fourth G20 summit in Toronto, Hu said in his speech titled "Work in Unity for the Future" that the world economy is gradually recovering with the help of the concerted efforts of G20 members and the entire international community.However, he warned that the recovery was unfirmly established, unbalanced, and still facing "quite many uncertainties," such as the expanding sovereign debt crisis, drastic exchange rates fluctuations of major currencies and persistent volatility in the international financial markets.Seeking to address these problems and materialize a strong and balanced growth worldwide, Hu laid out a three-point proposal."First, we need to turn the G20 from an effective mechanism to counter the international financial crisis to a premier platform for advancing international economic cooperation," said the Chinese president."The complex world economic situation makes it necessary for the G20 to play a guiding role. We need to take a longer-term perspective and shift the focus of the G20 from coordinating stimulus measures to coordinating growth, from addressing short-term contingencies to promoting long-term governance and from passive response to proactive planning," he said.

BEIJING, Aug. 17 (Xinhua) -- Chinese experts on Tuesday refuted claims by the Pentagon released in a report that China is developing cyberwarfare capabilities, saying that the U.S. military was attempting to blacken China's image."I've never heard about any plans by China to develop its cyber attack forces, not to mention China's so-called 'organized cyber intrusion," Hu Qiheng, president of the Internet Society of China (ISC) told Xinhua on the sidelines of the China Internet Conference, which opened here Tuesday."It is a mere fabrication that China is using computer technologies to intrude on other countries' sovereignty," Hu said.The Chinese expert's comments came after the U.S. Department of Defense concluded early Tuesday in its annual assessment report sent to the U.S. Congress that "China is fielding...cyberwarfare capabilities to hold targets at risk throughout the region.""The U.S. purpose (of releasing such a report) is to tarnish China's image and exaggerate the threat China poses," Hu said.The U.S. was the top country of cyber attack origin in 2008, accounting for 25 percent of worldwide activity, according to a report by U.S. security firm Symantec.The ISC said more than 1 million Internet Protocol addresses in China were controlled by overseas hackers while 42,000 Chinese websites were tampered or hacked in 2009.Ni Feng, deputy director of the Institute of American Studies with the Chinese Academy of Social Sciences, said the United States has greatly outstripped any other country in terms of Internet technological power."As the source of Internet technology, the United States enjoys the most advanced Internet technologies and equipment in the world," Ni said, "thus it makes no sense and is beyond my comprehension for the United States to play up such cyber threat from China.""Maybe the only reasonable explanation is that the United States has always been on the alert for China's development," Ni said. "The U.S. government needs this kind of rhetoric as an excuse to scale up its cyberwarfare capabilities and win support from Congress, the media and the public at large.""If the United States continues such behavior, looking for topics to attack China, the mistrust between the two countries will only get worse," he added.

NANNING, Aug. 23 (Xinhua) -- Six people were killed and eleven others injured in an explosion at an illegal private firecracker factory in south China's Guangxi Zhuang Autonomous Region, local police said Sunday.The blast hit the factory in a village in Lingshan County, Qinzhou City at about 6 p.m. Sunday, the police said. The cause of the explosion is being investigated.Two people were killed on the spot while four injured died in the hospital after treatments failed.Police said they have arrested a suspect surnamed Lao.Authorities have ordered a city-wide crackdown on unlicensed firecracker factories following the incident.

来源：资阳报