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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.

HAIKOU, Aug. 23 (Xinhua) -- China is bracing for a strong tropical storm named "Mindelle", which is expected to skim the southernmost island province of Hainan between Monday midnight and Tuesday morning.At 8 a.m. Monday, a tropical low pressure system across the South China Sea intensified into the fifth tropical storm of the year, after being upgraded to a strong tropical storm eight hours later.The storm, by the name of "Mindellu", which means dandelion in Korean, is expected to approach the Beibu Gulf off the southern Guangxi Zhuang Autonomous Region after skipping Hainan, the Hainan provincial meteorological bureau said.Local authorities in Hainan have halted railway, shipping services and tourism programs and called fishing boats to return to ports as they braced for the storm.Both cargo and passenger shipping services were halted at 5 p.m., according to the ban issued by the provincial maritime affairs bureau.Also, passenger and cargo train services through Qiongzhou strait between the mainland and Hainan were halted at 5 p.m.Meanwhile, more than 26,000 fishing boats have returned to their ports.Tourism activities, such as diving and water-motorbike-driving in Sanya, the famous tourist city in southern Hannan, have also been halted as residents prepared for the storm.The Hainan provincial government said they would spare no efforts in protecting the safety of fishermen and tourists, as well as strengthening the monitoring of reservoirs.

BEIJING, July 28 (Xinhua) -- Profits at Chinese industrial enterprises in 24 regions climbed 71.8 percent year on year to 1.61 trillion yuan (237.5 billion U.S. dollars) in the first six months, the National Bureau of Statistics (NBS) said Wednesday.The growth rate was 11.2 percentage points lower than that in the first five months, the NBS said in a statement.Combined revenues for the enterprises totaled 25.9 trillion yuan in the first half of the year, up 36.5 percent from a year earlier - a growth rate 2.4 percentage points lower than in the January-to-May period.Most of the 39 major industries posted year-on-year profit growth.The 24 regions comprise all of the Chinese mainland provinces, municipalities and autonomous regions except the Inner Mongolia and Tibet autonomous regions; Hunan, Guangdong, Hainan and Yunnan provinces; and Chongqing.China's industrial value-added output expanded 17.6 percent year on year in the first half of the year. But month-on-month growth began to slow in March, with June's growth at 13.7 percent year on year.

ATHENS, June 15 (Xinhua) -- Visiting Chinese Vice Premier Zhang Dejiang and his Greek counterpart Theodoros Pangalos on Tuesday agreed to enhance bilateral cooperation in various areas including economy, education, culture and international affairs.Zhang said that China is willing to cooperate with Greece to push forward their comprehensive strategic relations.China is ready to cooperate with Greece to expand bilateral trade and investment, and strengthen mutual understanding and friendship between the two countries, he said. Greek Deputy Primer Minister Theodoros Pangalos (L) meets with Chinese Vice Premier Zhang Dejiang in Athens, Greece, on June 15, 2010. Zhang is in Greece for an official visit. China is also willing to expand its import of Greek products and hopes that Greece could provide convenience and support for Chinese enterprises that made investments or started businesses there, said Zhang.He also urged the two sides to boost maritime cooperation.Pangalos hailed China-Greece relations as "excellent," saying Greece will continue to strengthen its strategic relations with China, and carry out effective cooperation in regional and international issues.Pangalos said Greece also hoped that the two governments could strengthen cooperation in maritime affairs, trade and economy and investment so as to achieve common development.The two nations signed a total of 14 cooperation agreements on Tuesday in the presence of the two vice premiers.

BEIJING, Aug. 6 (Xinhua) - Temperatures as high as 41 degrees Celsius continued to grill south China this week, but local Chinese are popping up with cool ways to cope with the heat.Every morning this summer, thousands of residents in the eastern Chinese city of Hanzhou rush to air-raid shelters, not to escape air attacks, but summer heat.In the capital of Zhejiang Province, many city dwellers have found their summer resorts in the city' s nine bomb shelters, which were dug beneath hummocks in the 1960s to defend against "American imperialist invaders" .In one shelter in southern Hanzhou, elders are watching swordsman TV opera or playing mahjong, while children play hide-and-seek in the labyrinth-like place.Temperatures inside the shelter were 22 degrees Celsius, compared to 38 degrees Celsius outdoors, according to a LED screen above one entrance."We old folks don' t like to be cooped up in air-conditioned rooms," said Ye Chulin, a local retiree. "Here the air is fresher and we can associate with many friends."The shelters, with benches, LCD TVs, and other newly installed comforts, were opened to the public free of charge and have apparently seen more visitors than back in the Cold War years.In fact, more than 3,000 residents frequent the shelters to find relief from the summer heat every day, said Cheng Zhiguo, an official with the municipal civil air defense administration.A resident surnamed Xu told Xinhua that spending his leisure time in the shelter could save him ten yuan (1.5 U.S. dollars) in air-conditioning costs per day."And this is not just about saving money, but it is also more environmentally friendly," added Xu.In the neighboring province of Jiangxi, residents are swarming into free, air-conditioned libraries to stay cool, and to learn!In the Jiangxi Provincial Library, chairs in all reading rooms are fully occupied. Latecomers have to read sitting on the floor or leaning against the wall.