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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.

TOKYO, July 27 (Xinhua) -- China and Japan on Tuesday conducted the first round of negotiation on the implementation of the principles of consensus concerning the East China Sea issue.Present at the talks were Ning Fukui, director general of the Chinese Foreign Ministry's Boundary and Ocean Affairs Department, and Akitaka Saiki, director general of the Japanese Foreign Ministry's Asian and Oceanian Affairs Bureau, Natural Resources.In a positive, candid and practical atmosphere, the two sides exchanged views on the implementation of the principles of consensus.And the two sides agreed to make concerted efforts to gradually accelerate the process of implementing the principles of consensus through friendly consultations and attain the common goal of turning the East China sea into a sea of "peace, cooperation and friendship."The decision to hold the negotiation was made by Chinese Foreign Minister Yang Jiechi and his Japanese counterpart Okada Katsuya after a meeting on the sidelines of the ASEAN Ministerial Meeting in Hanoi, according to a press release from the Chinese foreign ministry Thursday.

XINING, July 21 (Xinhua) -- A senior Chinese official has called for more social and economic development in the nation's Tibetan-inhabited regions to improve people's livelihoods.Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during his visit to northwest China's Qinghai Province on Monday and Tuesday.Zhou visited workers fighting floods on the Golmud River and he urged local governments to work hard to ensure the safety of the Qinghai-Tibet railway.While visiting quake-devastated Yushu County, Zhou urged the local government to speed up the rebuilding of quake survivors' homes.Zhou encouraged the local Tibetan people to be optimistic about the future and to put the disaster behind them.Zhou also visited a PetroChina refinery in the province and called on the company's staff to overcome the difficulties of life on the plateau and to make greater contributions to the nation's energy industry.While visiting local communities in Golmud City, Zhou asked the local police to better serve residents and called on local Muslims to maintain national unity and social stability.

CHANGCHUN, July 30 (Xinhua) -- Civilians were mobilized Friday to join exhausted soldiers and emergency workers struggling against mounting difficulties to retrieve thousands of chemical-filled barrels that were swept into a major northeast China river by flood waters two days ago.Some 3,000 full barrels and 4,000 empty ones were swept into the Wende River and on to the Songhua River after floods hit warehouses of two chemical factories in Jilin City, Jilin Province, early Wednesday.As of 6 p.m. Friday, 3,700 of the about 7,000 containers have been retrieved, according to a statement from the provincial government.Provincial authorities vowed to retrieve all the containers before they flow out of Hadashan Reservoir on the lower reaches of Songhua River in Jilin's Songyuan City.However, salvage workers fear some of the barrels, many filled with 170 kilograms of flammable liquid, may have sunk to the bottom of the Songhua River, raising serious risks of lingering water contamination.Chemical barrels were also spotted lying unattended in the debris of flood-devastated villages.At 2 p.m. Friday, the Fengman Reservoir, on a tributary of the Songhua River and 24 km southeast of Jilin City, opened floodgates to discharge flood waters.The water flow at each gate peaked at 800 cubic meters per second around 4 p.m., and at least thousands of residents had been evacuated over Thursday night and Friday morning.Workers said the move might help speed up salvage efforts by washing away floating debris, such as trash, weeds and tree branches, which had hampered the work.

BEIJING, July 19 (Xinhua) -- While China strives to create a more open and fair business environment, the country also wants business to embrace environmental-friendly policies. The move, aimed at a sustainable growth, should not be interpreted as worsening the investment conditions, analysts note."Currently, there is an allegation that China's investment environment is worsening. I think it is untrue," Premier Wen Jiabao said while talking with heads of prestigious German and Chinese firms in northwest China's Xi'an city over the weekend.Although Chinese leaders stated that China welcomes foreign investment as always, some western media have repeatedly run stories that claim China's investment environment is worsening.Statistics, however, tell a different story. Foreign direct investment (FDI) that flowed into China in June surged 39.6 percent from a year earlier, resulting in a 19.6-percent year-on-year increase during the first half of this year."Foreign investment will not pour into a country where the investment environment is worsening," Wen said.China will continue both its opening-up policy and improving its investment environment, as the government promised, but structural changes are expected because both China and the world are changing, analysts said.For the past 30 years, China has been wooing foreign investment with many preferential policies designed to attract badly-needed capital, advanced technology and management expertise.