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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. 

BEIJING, May 8 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for developed nations to assist the developing world in its green economy endeavor by technology transfer, financial assistance and market liberalization.Green economy offers a new model where people could both protect the climate and develop the economy, said Li at the International Cooperative Conference on Green Economy and Climate Change here Saturday.Li urged countries across the world to focus on developing new energies and promoting the development of energy-saving and environmental protection industries.Li encouraged people to live in a more energy-saving and low-carbon way, citing a "green consumption" concept. Chinese Vice Premier Li Keqiang delivers a speech on the opening ceremony of International Cooperative Conference on Green Economy and Climate Change in Beijing, capital of China, May 8, 2010.He said international cooperation in the framework of green economy and climate change is crucial to the recovery of global economy and the sustainable development of Chinese economy.With a theme of "Low carbon, New energy and Sustainable development," the conference was organized by the China Center for International Economic Exchanges. The conference has invited leaders, environment officials and entrepreneurs from

BEIJING, May 4 (Xinhua) -- China had raised 4.349 billion yuan (637 million U.S. dollars) of donations in money and materials for quake-hit Yushu as of Tuesday, according to the Ministry of Civil Affairs.The donations included 3.66 billion yuan and quake-relief materials worth 686 million yuan as of 4:00 p.m., said a statement released by the ministry.The post said 635 million yuan, including 79 million yuan and materials worth 556 million yuan, had been channeled to the quake zone.It said 69,353 cotton-padded tents, 143,854 cotton-padded coats, together with other quake-relief materials, had been delivered to Yushu.At least 2,200 people died and more than 100,000 were left homeless when the 7.1-magnitude earthquake hit the Yushu prefecture, Qinghai Province on April 14.

GENEVA, April 20 (Xinhua) -- China on Tuesday asked the World Trade Organization to set up an expert panel to rule whether the European Union's antidumping duties on Chinese-made footwear violates global trade regulations.At a meeting of the WTO's Dispute Settlement Body, the Chinese delegation reiterated that the EU's antidumping measure was inconsistent with related WTO agreements and it impaired China's benefits."China requests the DSB to establish a panel to ensure the protection of China's legitimate rights and benefits under the WTO agreements," the delegation said in a statement.The delegation said that it was taking the action after the latest consultations with the EU on March 31 failed to resolve China's concerns and "no mutually satisfactory solution could be reached."The delegation's statement also urged the 27-nation bloc to bring its legislation in line with WTO agrements and "to terminate the measure on Chinese footwear on account of their inconsistency with WTO rules."The EU said it regretted the step take by China and blocked the panel request. But according to the WTO's dispute settlement procedures, a panel request can be blocked only once, which means the panel would be established automatically if China makes a second request at a DSB meeting scheduled for next month.China first brought the dispute to the WTO on Feb. 4, which initiated a 60-day consultation period between the two sides.A panel request is the second step in the WTO's dispute settlement procedure following unsuccesful consultations in finding a resolution.

PYONGYANG, May 9 (Xinhua) -- The Rodong Sinmun, a leading newspaper of the Democratic People's Republic of Korea (DPRK), hailed the recent successful visit to China by top leader Kim Jong Il in an editorial published Sunday.The editorial said that the people of the DPRK are "very glad and excited" about the visit. It is a "meaningful opportunity" to strengthen the friendship between the two parties and the leaders of the two countries.The article also indicated that the DPRK will make efforts to further strengthen the traditional DPRK-China friendship.Both countries shared the view that peace, stability and prosperity of the Korean Peninsula are in the common interests of the two countries and other Northeastern Asian nations, the editorial said.The two sides will make joint efforts to achieve the objective of denuclearizing the Peninsula on the basis of the Sept. 19 Joint Statement, it added.The editorial also said that the people of the DPRK sincerely wish the Chinese people still greater achievements in their socialist construction and the cause for national reunification.Kim Jong Il made an unofficial visit to China from May 3 to 7. He has visited China for five times since 2000.