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CHICAGO, May 15 (Xinhua) -- Highly effective investment in infrastructure by the Chinese government and the urbanization process in China will ensure the continuous rapid growth of the Chinese economy in the next 20 years, said a distinguished economist on Saturday.Justin Yifu Lin, chief economist and senior vice president of the World Bank, made the statement during the "China and the Future of the Global Economy" conference held at the University of Chicago.Lin was very positive about the Chinese government's efficiency in infrastructure investment.During the Southeast Asian financial crisis last century, the Chinese government solved the economic development bottleneck by investing in infrastructure. It laid a solid foundation for the development of an export-oriented Chinese economy, he said."Since the financial crisis in the second half of 2008, the Chinese government implemented a dynamic financial policy and heavily invested in infrastructure. It successfully drove China's economic growth and contributed to the global economic growth as well."Most developing countries are facing the economic bottleneck of a backward infrastructure. The Chinese government has set a good example for other developing countries with its highly efficient investment in infrastructure. The World Bank may consider providing more loans to developing countries to help them invest in infrastructure, he continued.Lin said China's future economic development has greater potential compared with other major economies.

GUANGZHOU, April 18 (Xinhua) -- A research report of China's foreign trade sector Sunday predicted the world's largest exporter would more than double its foreign trade volume by 2020.It also called on China to improve the quality of foreign trade sector and to lower import tariffs to promote the nation's trade balance.The report, launched by the Ministry of Commerce (MOC) Sunday at the ongoing 107th China Import and Export Fair, the country's largest trade fair held in the southern city of Guangzhou, predicted the China's foreign trade volume would hit 5.3 trillion U.S. dollars by 2020.Merchandise exports will top other countries and be 2.4 trillion U.S. dollars in 2020, 10.1 percent of the world total, while imports will reach 1.9 trillion U.S. dollars and rank second largest, accounting for 8.2 percent of the world total, according to the report, jointly compiled by researchers with think-tanks under the MOC, the Ministry of Finance, and the Chinese Academy of Social Sciences.The report was seen by analysts and officials as a "road map" which lays out a theoretical basis for the reforms in China's trade policies and mechanisms over the next decade.The transformation of the foreign trade growth pattern has become an urgent requirement for China in the post-crisis era, said Vice Minister of Commerce Zhong Shan.Weighed on by the global downturn, China's foreign trade contracted to a three-decade low in 2009, with total volume down 13.9 percent year on year to 2.2 trillion U.S. dollars.Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation (CAITEC) under the MOC, said the financial crisis has revealed a series of substantial problems hidden behind rosy figures, as the nation's foreign trade has been expanded in an ineffective and imbalanced way, or at the cost of environment pollution.Analysts said the downturn had prompted China to adjust its exports structure, and shift focus on high-end manufacturing, energy-saving and environment-friendly industries and developing modern service industries.Li Gang, a research fellow with the CAITEC and leading writer of the report, said the global downturn has phased out a number of backward and less competitive enterprises while offering great opportunities for innovative enterprises to improve growth structure and strengthen their anti-risk capabilities.Although China reported a a deficit of 7.24 billion U.S. dollars in March, the first time over the past six years, analysts suggested decision makers to further expand imports by lowering tariffs, as a way to ease the nation's trade imbalance.Zhang Peng, a researcher with the Chinese Academy of Social Sciences, said China should increase imports of high-tech equipments, energy and resource products, and some agriculture and consumption goods in an attempt to address the trade imbalance.The nation's trade surplus has reached 1.3 trillion U.S. dollars over the last three decades, with foreign exchange reserves hitting 2.45 trillion U.S. dollars by the end of March, according to Zhang.Propping up world's economy recovery, China's foreign trade began to grow again in the first quarter, jumping 44.1 percent to 617.85 billion U.S. dollars, according to customs data.China would consolidate its position as a big trade power and make efforts to develop into a strong trader, and it would play a more active role in international trade arena, according to Zhong Shan.

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. 

MINSK, March 25 (Xinhua) -- Under new circumstances, bilateral relations between China and Belarus are bestowed with great opportunities and have broad prospects, said visiting Chinese Vice President Xi Jinping in a meeting with Belarusian Prime Minister Sergei Sidorsky here on Thursday."Developing good relationship with Belarus is a policy that China highly values and will never change, regardless of the fluctuation of international and regional situations," said Xi.China is willing to further deepen and broaden bilateral ties with Belarus, said Xi. Chinese Vice President Xi Jinping (L) meets with Belarusian Prime Minister Sergei Sidorsky in Minsk, capital of Belarus, March 25, 2010.Economic cooperation is an important component of Sino- Belarusian strategic cooperation, which has transformed from commercial trade to economic and technological cooperation, said the Chinese leader.In order to further enhance bilateral economic cooperation, China and Belarus should pay close attention to the implementation of major comprehensive projects, and give full play to the role of the Sino-Belarusian cooperative committee of economy, science and military technology.The committee should step up guidance and coordination on bilateral cooperation, as well as map out priorities in practical bilateral cooperation under new circumstances, said Xi.Xi also suggested China and Belarus draw on each other's comparative advantages and explore new growth areas such as technological cooperation.

BEIJING，April 4 (Xinhua) -- Frequent cold fronts in the coming 10 days would bring rainfalls to drought-hit Guangxi Zhuang Autonomous Region and Guizhou Province, China Meteorological Administration (CMA) said Sunday.Light to moderate rains or showers are forecast in Guangxi, western Guangdong, southwestern Hubei, most parts of Guizhou, northwestern Yunnan and the northeastern part of the Western Sichuan Plateau on April 5, according to the CMA.But apart from its northwestern region, Yunnan province, worst hit by the current drought, would see virtually no precipitation in the next 10 days, the CMA said.The cold fronts would also cause temperature drops of 4 to 6 degrees Celsius in Inner Mongolia, northeast China, eastern part of northwest China and north China in the next three days.From April 7 to 9, northern part of China would expect windy and sandy weather. Northern and eastern parts of Northeast China would see moderate to heavy snow during the three days.

来源：资阳报