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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. 

XIANGNING, Shanxi, April 5 (Xinhua) –- Nine miners trapped under the flooded Wangjialing coal mine in north China's Shanxi Province were taken out of the shaft Monday morning miraculously to safety, after 179 hours underground.The survivors were immediately sent to a nearby hospital for medical treatment. Their blood pressure and heart rates remained normal after having being trapped in the shaft for one week.One of the survivors, named Li Guoyu, 38, had a lucid mind and told doctors that he comes from central China's Henan Province. The identities of eight other workers were not readily available yet.A rescued miner is taken to a hospital in Xiangning County, north China's Shanxi Province, April 5, 2010. Nine survivors were rescured out of the flooded Wangjialing Coal Mine and they were identified Monday morning. Rescue for other trapped miners at flooded Wangjialing coal mine is continuingLi said they had been unable to pass urine for two days, because they dared not drink the murky water flowing in the tunnel.A total of 144 other fellow miners remain trapped, but rescue workers heard banging on the metal pipe, indicating further signs of life.Thousands of people kept standing along the road at midnight and burst into applause when the ambulances carrying the survivors passed by.

BEIJING, May 21 (Xinhua) -- The U.S. commerce chief Friday said the United States would complete its review of the exports control system this summer, without specifying the possibly relaxed controls against exports to China."With respect to our export control reform, we want to have that done by this summer," U.S. Commerce Secretary Gary Locke told reporters during his trade mission to China Friday.Locke is leading a delegation of business executives from American clean energy companies looking to China's fast growing green energy market, the size of which the United States has predicted will be 100 billion U.S. dollars by 2020."We have restrictions on items already readily available from companies around the rest of the world and our restrictions make no sense," Locke said.The United States' 1979 Export Administration Act limits the export sales of some commercial high-technology goods to China.The exports control system, operated by the U.S. Defense Department and the Commerce Department, is widely seen as a major cause for the trade imbalance between China and the United States.U.S. products accounted for 7.5 percent of China's high technology imports last year, down from 18.3 percent in 2001 partly due to the U.S. exports control system, according to China's Commerce Ministry."If the share in 2001 is used as a benchmark, U.S. companies lost at least 33 billion U.S. dollars worth of export opportunities in 2009," Commerce Minister Chen Deming said in March.In a meeting with Locke Thursday, Chinese Deputy Commerce Minister Ma Xiuhong said China-U.S. cooperation would be impaired unless the United States takes substantive measures to ease its restrictions on exports to China.Locke didn't specify which exports are likely to be available to China,citing U.S. national security as the major factor to be considered when reviewing the export control system.Locke stressed restrictions will be eased on some commonly available high-tech goods and strengthened on sensitive technologies with military uses."We need to intensify and increase our protection on some very super-sensitive technologies to make sure that they don't get in the hands of those who want to do America ... harm, especially terrorist organizations," he said."Some of it can be implemented almost immediately while some can be done in a matter of months once there is agreement within the administration on the review," Locke said in response to Xinhua's question on when the new export control system will be in operation.

TASHKENT, May 22 (Xinhua) -- Chinese Foreign Minister Yang Jiechi said Saturday at the end of visits to Tunisia, Ukraine, Uzbekistan that China and the three nations have pledged closer cooperation in trade, energy and infrastructure.Yang described the visits as "fruitful," saying he and leaders of the three nations held in-depth discussion about how to step up pragmatic cooperation."Broad consensus has been reached," Yang said in a joint interview with Xinhua, China Central Television and China Radio International."The four countries agreed that it is necessary to look into new ways of cooperation, especially in trade and economy," Yang said.China and the three countries pledged to expand mutually beneficial cooperation in telecommunication, energy, science and technology and infrastructure construction, he said.They also decided to promote cultural, humanitarian and youth exchanges, and deepen mutual understanding, Yang said."The four nations are ready to work together to safeguard world and regional peace, stability and development," Yang said.To that end, the foreign minister said, the countries pledged to enhance consultation and coordination in major international and regional affairs. They also pledged, he said, to strengthen cooperation within the frameworks of the United Nations, the Shanghai Cooperation Organization (SCO), the China-Arab Cooperation Forum and the China-Africa Cooperation Forum.The leaders of Tunisia, Ukraine, Uzbekistan expressed willingness to strengthen mutually beneficial cooperation, high-level contacts and political mutual trust with China, Yang said.The three states said they valued their friendships with China and would deal with their relationships with China from a strategic and long-term perspective, Yang said.The foreign minister visited Tunisia, Ukraine and Uzbekistan from May 17-22 as a guest of his counterparts in the three nations.He also attended a Council of Foreign Ministers meeting of the Shanghai Cooperation Organization on Saturday in Tashkent, the capital of Uzbekistan.Yang said the foreign ministers meeting was mainly aimed at making sure the SOC members are politically prepared for the bloc's Tashkent summit in June.During the meeting, the SOO members agreed that they would steadfastly implement all of the important consensus concerning the SCO's development reached by their leaders, he said.Moreover, they should effectively deal with constantly emerging threats and challenges so as to defend the fundamental interests of the bloc and its members, and help the bloc play a bigger role in promoting regional peace, stability and development, Yang said.

PORT-AU-PRINCE, March 27 (Xinhua) -- Edmund Mulet, head of the UN Stabilization Mission in Haiti (MINUSTAH), on Saturday extended his gratitude to the Chinese peacekeepers and riot police in the quake-ravaged country."I am here to show my respect to the Chinese riot police team and our sincere gratitude for your outstanding performance on behalf of the United Nations," said Mulet during an inspection tour of their campsite.He noted the United Nations was satisfied with the high efficiency of the eighth contingent of Chinese riot police, which was sent to Haiti for the second time. Though there have been several rotations, their dedication and commitment to the peacekeeping mission remain unchanged.When they lost eight members in the 7.3-magnitude earthquake, the Chinese squad did everything they can to tackle the challenges and support MINUSTAH's operation. They had won wide acclaim by the local people, he said."I feel gratified to work with such an excellent police team like you," Mulet added.During the inspection, he also watched and spoke highly of the fighting performance of the Chinese police.Mulet is a Guatemalan diplomat and had previously served as the UN Secretary General's Special Representative to Haiti. He succeeded Hedi Annabi as head of the MINUSTAH after Annabi died in the Haiti earthquake.