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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.
TOKYO, June 1 (Xinhua) -- Visiting Chinese Premier Wen Jiabao on Tuesday reiterated China's pledge to take an "impartial" stand on the sinking of a South Korean warship."The sinking of the warship Cheonan is an unfortunate incident," Wen said during an interview with Japanese public broadcaster NHK. "We have offered condolences to the victims on many occasions."What China has in mind in approaching the incident, in which 46 South Korean sailors died after their warship sank in March, is maintaining peace and stability on the Korean Peninsula, he said.China attaches importance to the joint investigation conducted by South Korea and other countries and the reactions of various parties, and will take its position on the basis of truth and facts, he added.China appealed for calm on the part of the concerned parties so as to avoid a further escalation of tension and even conflict, he said.The Chinese premier said China understands the current difficult situation President Lee Myung-bak and the South Korean government are facing.China will seek information from various sources and seriously study it before making clear its stand in "a fair and objective manner," he said."We will adopt an impartial position," he said. China also maintains that any approach on it must serve the fundamental interest of maintaining peace and stability on the Korean Peninsula, he added.Wen said Japan is an important country in Northeast Asia and a close neighbor of China and South Korea. China is ready to cooperate with Japan on such issues as safeguarding security in Northeast Asia, he added.Japan is the second leg of Wen's four-nation Asian tour, which has already taken him to South Korea. He will also visit Mongolia and Myanmar.
YUSHU, Qinghai, May 20 (Xinhua) -- A mental health facility was established in Yushu, northwest China's Qinghai Province, Thursday to provide psychological counseling for the victims of last month's massive earthquake.The facility will ease the quake-victims' psychological trauma.The April 14 quake took the lives of at least 2,200, injured another 12,135 and left countless emotionally scared and reeling from the loss of family members and friends."It may take five to ten years for victims to recover from their psychological trauma. It is hard to heal such trauma without professional help," said Shi Zhanbiao, an expert with the Psychological Research Institute under the Chinese Academy of Social Sciences (CASS).The facility was established by the institute and the Qinghai Academy of Social Sciences.It will help restore quake-victims' mental health, he said.China's central government has allocated 9 billion yuan (1.32 billion U.S. dollars) for reconstruction in quake-devastated Yushu this year, according to a statement issued after a regular State Council meeting Wednesday.The meeting also established a three-year target for rebuilding homes, schools and roads in the county.The Ministry of Finance will allocate more money in the second and third years.
BEIJING, May 17 (Xinhua) -- China hopes the United States will not exclude China when it loosens its export restrictions, Yao Jian, a spokesman with the Ministry of Commerce said here Monday.Yao's remarks came after the United States said over the weekend it might change its exports control regime.The United States should treat all countries equally and not discriminate against China in its export policies, Yao said at a press conference.U.S. Commerce Secretary Gary Locke said in Hong Kong Sunday "concrete proposals" for changes in the exports control could be expected within the next several months.Locke said the review will help with "the sale of highly sophisticated technology that might be embedded in some of the machines and devices like wind turbines, and the software that might operate these very sophisticated systems."