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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.

TAIPEI, June 21 (Xinhua) -- The economic authority of Taiwan has approved investment totaling 77.13 million U.S. dollars from the Chinese mainland, according to a statistics report released Monday.From the end of June last year when Taiwan opened to mainland investment, the authority had approved 52 investment projects on the island by the end of May, said the report from the authority.The top three industries for mainland investment -- accounting for 44.84 percent of the total mainland investment -- were computers, electronics and optical products manufacturing.At the same time, the mainland saw a sharp increase in investment from Taiwan. In the first five months of this year, the Taiwan authority approved investments in 187 projects on the mainland.New investment from Taiwan on the mainland from January to May totalled 4.59 billion U.S. dollars, a year-on-year increase of 239.9 percent.About 75 percent of the Taiwan investment in the first five months went to Jiangsu, Guangdong, Fujian and Shandong provinces, said the report.

BEIJING, Aug. 22 (Xinhua) -- Wuhan Iron and Steel Company Ltd., the listed subsidiary of China's third largest steel maker, said Sunday that its net profit rose 90.43 percent year on year to 963.53 million yuan (141.7 million U.S. dollars) during the first half of the year as strong economic growth boosted steel demand and prices.The company's first-half-year sales reached 34.36 billion yuan, up 50.72 percent from one year earlier, it said in a statement delivered to the Shanghai Stock Exchange.However, costs also climbed in the first six months compared with a year earlier because of increases in raw material prices, it said.Production costs for steel products gained 47.12 percent year on year to 31.18 billion yuan. Further, the company's steel output in the first half of the year gained 29.75 percent year on year to 8.04 million tonnes.China's producer price index, a major gauge of inflation at the wholesale level, rose 6 percent in the January-June period, according to statistics released by the National Bureau of Statistics.However, the company was likely to face a "difficult time" in the second half of 2010 and meeting its full-year profit target would become a "challenging task" as demand from auto, home appliance and real estate sectors experienced "drastic changes" since July, leading to more restrained sales and falling prices, it said.Company officials also worried that high prices of iron ore, coal and electricity would further push up production costs and squeeze profit margins.On Friday, the price of its shares fell 2.87 percent to 4.73 yuan on the Shanghai bourse.

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.

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