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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. 

BEIJING, May 18 (Xinhua) -- Chinese Premier Wen Jiabao said Tuesday he expects the upcoming visit to China by German Chancellor Angela Merkel to be a new starting point in enhanced China-Germany economic cooperation.Wen made the remarks while meeting with German entrepreneurs and German President Horst Koehler in Beijing.Merkel will visit China in July, Wen said, adding that he hoped the two countries will cooperate in a tangible way.Wen met separately with Koehler earlier Tuesday afternoon.As major manufacturers and trading nations, China and Germany have played active roles in combating the financial crisis, Wen said.Chinese Premier Wen Jiabao (R Front) meets with German President Horst Koehler (L Front) in Beijing, capital of China, May 18, 2010.Wen said the world economy is recovering sluggishly.The sovereign debt crisis in Europe has slowed down the economic recovery, he said, adding that the impact of the crisis is more severe and complicated than people expected.He urged the international community, in particular the major economies, to have a clear understanding of the situation, strengthen confidence, and seek an effective mechanism for global economic governance with joint efforts, so as to actively promote the world economic recovery.Koehler agreed with Wen's views on the international financial situation, praising what China did to combat the financial crisis.

BEIJING, May 26 (Xinhua) -- President Hu Jintao has called for the creation of a more competitive and innovative workforce in the country, with the focus on training more top-notch specialists.At a central work conference on human resources in Beijing from Tuesday to Wednesday, President Hu Jintao said human resources were essential to the development of the Party and the state, and the quality of China's workforce was still poor compared to that of developed countries.China would enhance its workforce's strength, and the fostering of high-caliber professionals would be a priority, Hu said in a statement released after the meeting.Chinese President Hu Jintao addresses a central work conference on human resources held from May 25 to May 26 in Beijing, capital of China. Hu Jintao has called for the creation of a more competitive and innovative workforce in the country, with the focus on training more top-notch specialists.He said China would work to have a large high-quality workforce and to be a strong world power in terms of human resources by 2020.Party committees and governments at all levels must create an environment where talent can emerge and be put to use, he said.He also said innovation would be fully encouraged and supported by the government, and it was a strategic task to foster young talents.At the conference, Premier Wen Jiabao pledged more support to high-caliber creative specialists that are urgently needed in China.The government would encourage and help them and overseas Chinese students find employment or start up businesses in China, he said.Wen said China would increase its funding for the training and education of high-caliber specialists, with investments coming from the government, individuals, enterprises and social organizations.Vice President Xi Jinping said the government would promptly introduce major human resource programs to help realize the national goal.All members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee attended the conference.

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.

BEIJING, May 31 (Xinhua) -- Chinese Premier Wen Jiabao on Sunday called for the proper handling of the serious consequences of the March sinking of a South Korean warship, and efforts to gradually ease tensions in the region over the incident."The pressing task for the moment is to properly handle the serious impact caused by the Cheonan incident, defuse tensions in the region, and most importantly of all, avoid possible conflicts," Wen said.Wen was speaking at a joint press conference following a two-day summit meeting with South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama on the South Korean resort island.Chinese Premier Wen Jiabao attends the second phase of the third trilateral summit in South Korea's southern resort island of Jeju on May 30, 2010. Chinese Premier Wen Jiabao, South Korean President Lee Myung-bak and Japanese Prime Minister Yukio Hatoyama met in the trilateral summit with the aim of mapping out future cooperation in East Asia.Wen urged the Northeast Asian nations to help maintain regional peace and stability."We must spare no effort to promote peace and stability in Northeast Asia. Short of this precondition, development will be out of the question, and the hard-won achievements will be lost again," he stressed."China will continue to enhance communication with relevant parties (over the Cheonan incident) in order to steer the situation toward a direction which is conducive to peace and stability in Northeast Asia. This is in our best common and long-term interests," Wen said.As the region is facing many new challenges, China, Japan and South Korea should strengthen coordination between them, appropriately deal with sensitive issues and increase mutual political trust, Wen said.