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BEIJING, July 30 (Xinhuanet) --Zhejiang Geely Holding Group Co is expected to complete it takeover of Swedish luxury car brand Volvo from US automaker Ford Motor Co on Monday after getting government approval for the deal.Ministry of Commerce officials told China Daily on Thursday that the government cleared the Volvo deal on Monday 26, after the National Development and Reform Commission cleared the proposal last week.Geely has also got the necessary anti-trust approvals from the European Union and the US government for the deal.Li Shufu (center), chairman of Zhejiang Geely Holding Co, arrives for a news conference in Beijing earlier this year. The Geely-Volvo deal has won approval from the Chinese government."With this the decks are now clear for Geely to complete its acquisition of Volvo and start manufacturing the brand in China," said Wang Zhile, director of the research center on transnational corporations under the Ministry of Commerce.Yuan Xiaolin, Geely's spokesman for the Volvo deal was unavailable on Thursday for comment. However, unnamed sources from Geely told China Daily that the Zhejiang-based automaker will hold a formal function on Monday to complete the deal.Geely's shares surged nearly 11.32 percent and closed at HK.95 per share in Hong Kong on Thursday.Privately owned Geely paid .8 billion to acquire the Volvo car brand from Ford on March 28 this year. It was the biggest overseas deal made by Chinese automakers in recent times.Geely Chairman Li Shufu had at that time indicated that the company would invest 0 million as operating capital in Volvo apart from the US.8 billion purchase price.Geely said on July 15 that it had appointed Li as the chairman of the board at Volvo Car Corp. At the same time it appointed the former president and CEO of Volvo Hans-Olov Olsson as the vice-chairman.More appointments to the board and top management, including the chief executive and chief financial officer, may be made next week, said sources.Analysts said the Volvo buy will help Geely gain a competitive edge in China and also a major toehold in Europe.Pursuant to completion of the deal, Geely is likely to start making Volvo cars locally.Though it has not announced a location yet, indications are that it may consider Jiading in Shanghai, Chengdu in Sichuan, Beijing or Tianjin as possible production sites.During the firsts six months of the year, Volvo sold 15,497 cars in China, up 88 percent over last year.That compares to the Swedish luxury brand's 5.2 percent and 9 percent year-on-year decline in major markets like the United States and Germany.Geely plans to increase Volvo's annual sales in China to 150,000 units by 2015, said sources.
BEIJING, June 15 (Xinhua) -- Two Chinese chartered planes carrying 195 Chinese nationals who were evacuated from Kyrgyzstan arrived at an airport in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region early Tuesday, the Foreign Ministry said.The Chinese government dispatched the two Boeing 737-700 passenger planes late Monday to bring back Chinese nationals living in southern Kyrgyzstan, where ethnic clashes has left more than 120 dead.The first plane landed at 4:25 a.m. (Beijing Time) and the second, 5:20 a.m.(Beijing Time), according to Chinese diplomats waiting at the airport.The government dispatched two working groups to Kyrgyzstan and Urumqi on Monday for the evacuation task.A chartered plane of China Southern Airlines gets ready to take off at the airport in Urumqi, northwest of China's Xinjiang Uygur Autonomous Region, on June 14, 2010. China on Monday dispatched two chartered planes to bring home Chinese nationals in Kyrgyzstan, where ethnic clashes in the south have left at least 124 people dead and some 1,400 others injured.About 600 of the more than 1,000 Chinese living in south Kyrgyzstan have asked for early evacuation from the region, the ministry said.Diplomatic sources said another two chartered planes will bring back the rest of the Chinese nationals on Tuesday.It will be the largest evacuation task since April 2006, when Chinese chartered planes brought home some 400 nationals from riot-hit Solomon Islands.
XIAMEN, June 19 (Xinhua) -- Top Chinese political advisor Jia Qinglin called for increasing cooperation and exchanges between the Chinese mainland and Taiwan on Saturday as a means of advancing peaceful development of cross-Strait relations.In his meeting with Taiwanese guests who are in Xiamen to attend the second Straits Forum, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, expressed his hope that the Chinese mainland and Taiwan could continue to host and perfect such grassroots-level forums in the future."(Organizers) should welcome more Taiwanese to participate in the forum, especially those who had never been to the Chinese mainland," Jia said." hspace="0" src="/d/file/p/2010/06/eeb7e8c2214d07bd4bf3647a3374dba4.jpg" border="0" />Jia Qinglin(C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), attends the opening ceremony of the second Strait Forum in Xiamen, southeast China's Fujian Province, on June 19, 2010"People of all parties and all circles, as long as they support cooperation and exchanges across the Taiwan Strait, are welcome to exchange their views at the forum on an equal basis," he said.The Straits Forum, now in its second year, is expected to attract more than 10,000 Taiwanese participants this year. Among them, about 80 percent were non-officials, and over 60 percent were from the central or southern part of the island.Hailing the Straits Forum as a pioneering innovation, Jia said he believed the forum would make greater contributions to grassroots-level exchanges between the Chinese mainland and Taiwan, and contribute to the peaceful development of cross-Strait ties.Huang Ming-hui, vice chairwoman of Taiwan's ruling Kuomintang party, also said enhanced exchanges between the two sides across the Taiwan Strait would help reduce misunderstandings and continuous communications help reach consensus.
BERLIN, July 29 (Xinhua) -- China is gradually learning and absorbing ideas on human rights that can grow on its soil, and remains opposed to attempts by the West to impose its standards on China, says Chinese Vice Foreign Minister Fu Ying.In a recent interview with the German weekly newspaper Die Zeit, Fu said it seems "controversial and illogical" that Western countries acknowledge China's economic success and contributions to efforts against the global financial crisis, while "definitely" turning a blind eye to China's political progress.It seems as if the West wants to say that China has achieved all these without the leadership of the government and the Communist Party, maybe in total anarchy, Fu said."I still remember when I was an interpreter in the 1980s, human rights was always on the menu in our dialogues and our European guests brought lists of names with them," she said."Thirty years later, China has moved on, and so much has changed. In 2004, protection of human rights was incorporated into China's constitution. Many relevant laws and rules have been amended accordingly," Fu said.However, European delegations still come to China with the same stance, accusing China in a commanding way, Fu said."I really don't hear much mentioning of China' s human rights progress," she said.Yet, those political extremists seem to be presenting the whole picture of China's human rights for European countries, she said.Fu believes that to know the real China, it's not enough to "single out things you are interested in, or only listen to people who talk your talk."The most important is to look at the benefits of the majority of the people, she said.
NANJING, July 28 (Xinhua) -- A powerful explosion at a factory in eastern China's Nanjing City Wednesday has left at least 10 people dead and hundreds injured, including 14 critically, the city government said.Officials of the government of Nanjing, capital of Jiangsu Province, told a press conference Wednesday evening that 10 people were killed and 14 others suffered serious injuries after the blast at 10:11 a.m. ripped through an abandoned plastics factory in northern Nanjing's Xixia District.Further, more than 120 people have been hospitalized, according to the official.The death toll, which is based on the number of bodies so far recovered, could climb as rescuers are still clearing the explosion site and some injured people are reported to be in very critical condition.The blast was caused by a gas leak after a propylene pipeline was damaged as workers dismantled factory buildings of the Nanjing No. 4 Plastics Factory, said a statement from the State Administration of Work Safety (SAWS).The rescue headquarters say an excavator owned by Yangzhou Hongyuan Construction and Development Co., Ltd. hit a a pipe of 159 mm in diameter.The gas leak started at 9:56 a.m. and explosion occurred at 10:11 a.m.Gas supply was cut off a minute later, said Liu Zhaohua, deputy head of Nanjin's work safety bureau.The excavator operator, whose identity was not revealed, has been held by police for investigation.The explosion occurred when a motorist started a car engine at the scene, igniting the leaking gas, the SAWS statement said, without saying if the motorist was among the victims.Some rescuers and repairmen who had come to handle the gas leak may have died in the explosion, the headquarters said.