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CHICAGO, April 5 (Xinhua) -- There are some very exciting opportunities for collaboration between the United States and China in carbon exchange, said a senior executive in Chicago Monday.Richard L. Sandor is chairman and founder of the Chicago Climate Exchange (CCX), the world's first and North America's only voluntary, legally binding greenhouse gas cap-and-trade system. Sandor is also chairman of the Chicago Climate Futures Exchange ( CCFE), the world's leading futures exchange for environmental products.Sandor told Xinhua in an exclusive interview, "I recently spent two weeks in Beijing, Shanghai, Tianjin and Hong Kong. My view, based on the people I've met with on my trips and that I work with everyday, is that there are some very exciting opportunities for collaboration between the U.S. and China in the field of carbon exchange."He said that a great example is the recent establishment of a joint venture between Chicago Climate Exchange and two Chinese partners -- China National Petroleum Corporation and the City of Tianjin. Working together they will develop an electronic emission trading platform and auction facility for financial products to reduce sulfur dioxide emissions and water pollutants, as well as enhancement of energy efficiency, said Sandor.Sandor added, "The Tianjin Climate Exchange (TCX) has begun to implement pilot initiatives that can help pave the way for a strong market-based infrastructure that facilitates the environmental and policy goals of the People's Republic of China."When talking about the opportunities and challenges facing the U.S.-China collaboration in carbon trading area, Sandor said, "We operate in a range of legal and regulatory frameworks with global affiliates in the United States, Europe, China, Australia and Canada. While each country has unique characteristics that come with different demands and needs, what seems to be clear across the board is the importance a market mechanism will play in meeting those demands."He further explained, "Interest is growing globally in carbon markets as a way to achieve better strategic management of energy costs, new products, new sources of revenue, job creation and poverty alleviation. Going forward this is likely to develop on what could be called a "pluri-lateral" basis. There will be markets in different parts of the world that are linked by similar contracts -- much like you see with crude oil today or like we saw with cotton in the 19th century."The farming and forestry carbon exchange offsets program has been an important part of Chicago Climate Exchange. Sandor said, " Since Chicago Climate Exchange began in 2003, the offsets program has covered approximately 17.2 million acres, 9,000 individual farmers, ranchers and forest owners and 32.4 million metric tons of offsets. Mitigation practices taking place on farms, ranches and forests are good for water, wildlife and the climate, while providing a new income source for rural economies. "Regarding the effect of the offsets program, Sandor said, " Thousands of farmers, foresters and ranchers who commit to exceptional management practices that remove carbon from the air are now earning new income. The verified best practices that are used by land managers make crops better able to weather climate extremes, generate clean economy jobs, and incentivize new techniques that can further cut emissions.""However, this is only a small part of what Chicago Climate Exchange members have been able to achieve," said Sandor. "Of all reductions made by CCX members since 2003, about 15 percent have been through offset projects. The remaining cuts are made through companies that are taking a broad range of steps to reduce their emissions. Electricity generators have implemented efficiency retrofits at power plants, used lower-carbon fuels, and optimized nuclear and hydro plant operations."When commenting on the U.S. legislation on carbon exchange, Sandor told Xinhua, "In June of 2009 a comprehensive climate legislation bill was approved by the U.S. House of Representatives which included a national greenhouse gas reduction and trading system with compliance required starting in 2012. In the Senate, progress continues on multiple fronts. Senator Kerry is currently collaborating with Senators Lieberman and Graham to craft a bill with bipartisan support."He continued, "While policymakers at the federal level work through the details of a federal bill, interest is growing in regionally mandated markets, such as the Regional Greenhouse Gas Initiative, which trades on the Chicago Climate Futures Exchange ( CCFE). State governments are increasingly looking to encourage renewable power generation and driving growth in renewable markets. "Sandor is also a research professor at the Kellogg Graduate School of Management at Northwestern University where he teaches a course on environmental finance. He is a Member of the International Advisory Council of Guanghua School of Management at Peking University and a member of the TERI School of Management Advisory Committee in India. Sandor previously taught at the University of California Berkeley, Stanford University, and Columbia University.

BEIJING, May 28 (Xinhua) -- Lending by Chinese banks may drop to 600 billion yuan (88 billion U.S. dollars) in May as the central government winds down its stimulus program and cools the property market to prevent the economy from overheating, the Shanghai Securities News reported Friday.A fall in bank lending in May is expected after the government introduced a raft of measures to curb the skyrocketing property market in April. The measures included a ban on lending for third home purchases and increased scrutiny of developers' financing, the report said.Lu Zhengwei, an economist at Industrial Bank, estimates Chinese banks' May lending will be 450 billion yuan to 650 billion yuan, compared with 774 billion yuan in April."China has asked banks to strictly control lending to industries with overcapacity and to stop lending to new projects not in the 4-trillion-yuan stimulus package. These will be major reasons for a drop off in May lending," he said.China's banks lent 3.37 trillion yuan in the first four months of the year, about 45 percent of the government's full-year 7.5-trillion-yuan lending target.The National Bureau of Statistics is due to release major economic data for May, including new bank lending, mid-June.

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. 

UNITED NATIONS, May 4 (Xinhua) -- "China has consistently stood for the complete prohibition and thorough destruction of nuclear weapons," and "it is firmly committed to a nuclear strategy of self-defense and its nuclear weapons pose no threat to other countries," a senior Chinese diplomat said here Tuesday.Li Baodong, head of the Chinese delegation to the conference to review the Nuclear Non-Proliferation Treaty (NPT), made the statement when he was taking the floor at the conference, which entered its second day here Tuesday."We have adhered to the policy of no-first-use of nuclear weapons at any time or under any circumstances, and made the unequivocal commitment that we will unconditionally not to use or threaten to use nuclear weapons against non-nuclear-weapon states and nuclear-weapon-free zones," said Li, who is also the Chinese permanent representative to the United Nations."This open, explicit and transparent nuclear policy makes China unique among all nuclear-weapon states. China has never deployed any nuclear weapons on foreign territory," he said. "China has not participated and will not participate in any form of nuclear arms race.""China supports the early entry into force of the CTBT ( Comprehensive Test Ban Treaty) and the early commencement of the negotiation of a Fissile Material Cut-off Treaty. China will continue to keep its nuclear capabilities at the minimum level required for national security, and continue to make efforts to advance the international nuclear disarmament process," he said."The entry into force of the Comprehensive Test Ban Treaty at an early date, and the early commencement of negotiations on the Fissile Material Cut-off Treaty are of great importance to advancing the nuclear disarmament process," he said. "The international community should continue to make even greater efforts to this end.""Other nuclear-weapon states, when conditions are ripe, should also join the multilateral negotiations on nuclear disarmament," he said. "The international community should develop, at an appropriate time, a viable, long-term plan composed of phased actions, including the conclusion of a convention on the complete prohibition of nuclear weapons."The CTBT is the first treaty, in the form of international legal document, aimed to completely prohibit any nuclear weapon test explosion under any circumstances and in any place on the global scale.The treaty, which was adopted in New York on Sept. 10, 1996, constrains the development and qualitative improvement of nuclear weapons. It also provides for the establishment of a global verification system to monitor compliance with the treaty's provisions.It becomes operational 180 days after 44 states, whose ratification is required under Annex II of the text, have ratified it. To date, 181 states have signed it and 150, including 35 of the Annex II States, have ratified it."To steadily promote nuclear disarmament is an important step towards the complete prohibition and thorough destruction of nuclear weapons, and requires unremitting efforts from all parties, " he said."All nuclear-weapon states should fulfill in good faith obligations under article VI of the NPT, and publicly undertake not to seek permanent possession of nuclear weapons," he said."We welcome the recent signing of the new bilateral nuclear disarmament treaty between the United States and the Russian Federation," Li said. "As countries with largest nuclear arsenals, the two should continue to make drastic reductions in their nuclear arsenals in a verifiable and irreversible manner, which will contribute to creating conditions for the ultimate realization of complete and thorough nuclear disarmament.""Nuclear-weapon states should earnestly reduce the role of nuclear weapons in their respective national security policy, unequivocally undertake not to be the first to use nuclear weapons, and unconditionally not to use or threaten to use nuclear weapons against non-nuclear-weapon states and nuclear-weapon-free zones," he said. "We call on all nuclear-weapon states to conclude an international legal instrument in this regard at an early date."Nuclear disarmament must follow the principles of maintaining global strategic stability and undiminished security for all, he said. "The development of missile defense systems that disrupt global strategic stability should be abandoned. Multilateral negotiation process to prevent the weaponization of and arms race in outer space should be vigorously promoted."

BEIJING, April 26 (Xinhua) -- China pledged to further develop military ties with Cuba during a meeting of senior military officials from the two countries on Monday."The years since China and Cuba forged diplomatic ties in 1960 have witnessed a stable development of bilateral relations and fruitful cooperation in various fields," Chinese Defense Minister Liang Guanglie said when meeting with Alvaro Lopez Miera, vice minister and chief of the General Staff of Cuba's Revolutionary Armed Forces.The armed forces of China and Cuba have maintained frequent high-level visits and good communication, Liang said, citing the expansion of exchanges and cooperation in personnel training.Chinese Defense Minister Liang Guanglie (R) meets with Alvaro Lopez Miera, vice minister and chief of the General Staff of Cuba's Revolutionary Armed Forces in Beijing, capital of China, on April 26, 2010. China has always believed that the development of China-Cuba relations and their military ties are in the fundamental interests of both nations' people, he said.Liang, also a state councilor, said he would like to work with Cuba to further upgrade military ties.Lopez praised China's achievements in social and economic growth, adding that Cuba is willing to learn from China's experience.He also offered his condolences to the the victims of the 7.1-magnitude earthquake jolting northwest China's Qinghai Province on April 14, expressing his hope the two countries can enhance military cooperation in disaster-relief work.Arriving in China April 24, Lopez is scheduled to conclude the official goodwill visit on April 29.He held talks with Chen Bingde, chief of the General Staff of China's People's Liberation Army, here on Sunday.