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BEIJING, May 29 -- The Asian Development Bank (ADB) has called on Asian economies to strengthen their infrastructure investment through an effective financing framework to achieve higher and more sustainable growth.To that end, the bank said that as much as 0 billion would have to be invested annually in infrastructure across the region from 2010 to 2020. This means that around .25 trillion would be invested in that period in national and cross-regional infrastructure projects."In view of Asia's enormous untapped economic potential and the global financial crisis, now is the time to build efficient and seamless connections across Asia and with the rest of the world for a more competitive, prosperous and integrated region," said Masahiro Kawai, dean and CEO of the ADB Institute.A man working at the construction site of a railway line in Hainan province. The required infrastructure investment in the next 10 years is expected to produce income gains of about trillion across Asia.To meet the financing needs, the region could build an effective framework to mobilize its vast domestic savings as the main source, while encouraging private financing and participation involving public-private partnerships through "bankable" projects, said Kawai.He also suggested the strengthening of national and regional local currency bond markets, notably through the Chiang Mai Initiative, the Association of Southeast Asian Nations + 3 bond market initiative, and the Asian Bond Fund.

BEIJING, May 10 (Xinhua) -- Tao Dayong, a well-known Chinese economist and also honorary vice chairman of the ninth Central Committee of China Democratic League (CDL), has died of illness at the age of 93.President Hu Jintao, Premier Wen Jiabao and other senior leaders, including Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, expressed their condolences.Tao, a native of Shanghai, graduated in 1940 from the Department of Economics of the Nanjing-based Central University.He joined the China Democratic League in 1947 and became chief editor of the Economic Weekly, a magazine published by the Hong Kong-based Chinese language newspaper Wen Wei Po in 1949.Tao was a member of the sixth, seventh, and eighth National People's Congress Standing Committee and a member of the Standing Committee of the Sixth National Committee of the Chinese People's Political Consultative Conference.

BEIJING, May 3 (Xinhua) -- Chinese President Hu Jintao encouraged college students to help advance the country's modernization drive on the eve of Youth Day, calling on them to "nourish lofty ambitions."Replying a letter from students and teachers of the China Agricultural University, Hu said he hoped they could nourish lofty ambitions and contribute to the country's endeavor to solve the issues concerning agriculture, farmers and rural areas.He said the issues are on the top agenda of the central authorities, and the modernization of agriculture is a major task in the country's overall plan to realize modernization.The task means huge responsibility for colleges and institutes specialized in agricultural studies, while at the same time it also offers a platform for agriculture learners and researchers to display their talents, Hu said.The Beijing-based university is a top higher learning institution specialized in agriculture in China. Hu visited the university and talked with students and teachers there a year earlier before Youth Day, which falls on May 4.

BEIJING, March 30 (Xinhua) -- Chinese auto maker Zhejiang Geely Holding Group is ready to inject 900 million U.S. dollars operating capital into Volvo on top of the 1.8 billion U.S. dollars purchase price, Geely chairman Li Shufu said Tuesday."We should not only inject money into Volvo, but also endeavor to improve Volvo's profit-making capability," Li said at a press conference to discuss the Volvo takeover.The Zhejiang-based Geely signed a deal with Ford Motor Co. Sunday in Sweden to acquire the U.S. auto giant's Volvo car unit.The photo taken on March 23, 2010 shows Volvo assembly plant in the suburbs of western Belgian city of Gent. China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. in Goteborg of Sweden on March 28, 2010 to acquire the U.S. auto giant's Volvo car unit"Geely is Geely, while Volvo is Volvo. Geely will not produce Volvo, and Volvo will not produce Geely," said Li, also the founder of the firm, adding that Volvo would keep its unique characteristics after the takeover.Li said Volvo's biggest problem was its small production scale and high research and development expenses, adding Volvo should try to increase production and sales to cut costs.

NANNING, May 15 (Xinhua) -- Three people were killed and one was missing amid heavy rains that pounded a scenic city of Guangxi Zhuang Autonomous Region for the past two days, Guangxi's flood-control and drought relief headquarters said Saturday.Continuous rainstorms triggered mud-rock flows Thursday night in Ziyuan County of Guilin City, killing three people there, the headquarters said.On Friday morning, a fisherman was swept away by rain-triggered floods in Gongcheng County of Guilin.Rainstorms had incurred property losses to about 19,000 people in Guilin as more than 30 houses collapsed, 1,100 hectares of farmland were inundated and many public facilities were damaged.The economic damage was estimated at 13.2 million yuan (1.9 million U.S. dollars).In southern province of Guangdong, three rainstorms pelted Guangzhou, the provincial capital, over the past week, with rainfall up to 440 mm, a record high in 25 years.The precipitation equalled to a quarter of the city's annual rainfall, according to meteorological statistics, said Lin Liangxun, Guangdong's chief weather forecaster.Guangdong has reported one missing. More than 35,000 people have been affected by the three rounds of heavy rains.Latest weather forecast said the rain is expected to weaken over the weekend.In the central province of Hunan, more than 8,000 people were stranded Saturday after heavy rains inundated the key roads of a town. Rescuers were transporting food and daily necessities to the region through a small chain bridge.The rain triggered mountain torrents in Xupu County on Wednesday and Thursday, causing damage to its four major bridges and the trunk roads linking Shanxi Town to the outside. Rescuers had to carry first-aid materials on their shoulders to the stranded population.Water level in the worst-hit Shanxi Town reached 2.7 meters in the street, said Zhang Shanwen, Party chief of Shanxi Town.Weather forecast said a new round of rains will hit the region on Sunday and Monday.