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BEIJING, Jan. 18 (Xinhua) -- Foreign direct investment (FDI) into China hit a record 105.74 billion U.S. dollars last year, up 17.4 percent year on year, the Ministry of Commerce (MOC) announced Tuesday.In December alone, China attracted 14.03 billion U.S. dollars of FDI, up 15.6 percent year on year, making it the 17th consecutive month of FDI growth since August 2009.The rapid FDI growth could be attributed to robust development in the service sector and the country's central and western regions, said MOC spokesman Yao Jian.FDI in the service sector rose 28.6 percent last year and that in central and western regions climbed 27.6 percent year on year, Yao said.
BEIJING, Dec. 29 (Xinhua) -- Chinese President Hu Jintao has stressed the need to stabilize commodity prices, extend the coverage of the social security network and boost employment to ensure the country develops in a comprehensive, coordinated and sustainable manner.Hu made the call Tuesday when presiding over lectures on economic development attended by members of the Political Bureau of the Communist Party of China (CPC) Central Committee.The lectures were given by two researchers respectively from the National Development and Reform Commission and the Chinese Academy of Social Sciences.Efforts should be made to establish a long-term mechanism that increases consumptions, renovate and upgrade traditional industries, and cultivate and support strategic emerging industries, Hu noted.Hu, also general secretary of the CPC Central Committee, called for deepening of the country's reform and opening up, adding that improving people's livelihood and ensuring their well-being, promoting economic growth and maintaining social stability are the Party's top agenda.Hu said impetus should be given to the development of the service industry as well as to the coordination of regional development, and vigorous yet steady endeavors should be made to advance urbanization.Hu also called for efforts to embrace reform and innovation in the country's economic, political, cultural and social systems and urged local authorities to seek opinions and advice from the people in formulating regional development blueprints.Further, Hu asked CPC officials to cement their ties with the people and do practical things for the public.

BEIJING, Dec. 22 (Xinhua) -- Chinese lawmakers have heard a series of the State Council's reports on the development of ethnic minorities, and regarding the country's health care reform and service industry, at a meeting Wednesday during the bimonthly session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature.The meeting was presided over by Ismail Tiliwaldi, vice chairman of the NPC Standing Committee.A total of 150 NPC Standing Committee members, including Wu Bangguo, chairman of the NPC Standing Committee, as well as other vice chairpersons of the NPC Standing Committee attended the meeting.Commissioned by the State Council, Yang Jing, minister in charge of the State Ethnic Affairs Commission, said in a report to the NPC Standing Committee that the Communist Party of China (CPC) and the central government's supports in policy, planning and funding for the ethnic minority groups and regions had yielded remarkable achievements in the country's economic and social development.In the report, Yang also pledged that the government would continue to step up infrastructure development in ethnic minority regions and spend more on education, medical services and poverty relief.Zhang Ping, director of the National Development and Reform Commission, delivered a report on deepening health care reform at the meeting.The reform had achieved various levels of progress in promotion of medical insurance, grassroots medical services and equal access of health care services for the public, Zhang said.Zhang noted that the government would further expand the coverage of the medical insurance system, intensify supervision over medical service providers and make more progress in the reform of the country's publicly-owned hospitals.Zhang also delivered a report on accelerating the development of the country's secondary industries. China's service industry has been experiencing rapid growth from 2006 to 2010 with an increase in its competitiveness, Zhang said.The service industry has been making increasing contributions to the country's job market, as well, Zhang said.However, Zhang commented that it still lags behind the country's overall development, and could not meet the demand of the country's economic and social development.In his report, Zhang urged creating a favorable policy and system environment for the development of the country's service industry.The meeting also reviewed a written report about Wu Bangguo's visit to Cambodia, Indonesia and Thailand.Also on Wednesday, a meeting of the chairman and vice-chairpersons of the NPC Standing Committee, presided over by Wu Bangguo, has decided to put the draft agenda of the fourth plenary meeting of the 11th NPC to the vote at the ongoing NPC Standing Committee session.The 18th session of the Standing Committee of the 11th NPC runs from Dec.20 to 25.
NANJING, Dec. 31 (Xinhua) -- A court in east China's Jiangsu Province sentenced a man to death and another to life in prison Friday for illegally raising up to 4 billion yuan (606 million U.S. dollars) in a fraudulent investment scheme.Another 11 suspects were given jail terms ranging from two-and-a-half to 10 years for collusion in the fraud, which caused losses of 650 million yuan (98 million dollars) to 14,822 investors, the Intermediate People's Court in the provincial capital, Nanjing, said in a statement.According to the statement, Sun Haiyu and Hu Zhen jointly set up a company, Nanjing Runzai Biology Co., Ltd. in January 2004 and began soliciting investments from the public in the name of planting glossy ganoderma, or reishi mushrooms, which are widely used in traditional Chinese medicine.The judge said the company exaggerated its profits in planting glossy ganoderma and fraudulently claimed that the investment was risk free.The duo, together with 11 accomplices, raised more than 4 billion yuan from April 2004 to July 2008.Sun was sentenced to death for the crime of illegal fund-raising by fraudulent means, while Hu was sentenced to life imprisonment.
WUHAN, Jan. 5 (Xinhua) -- China is building museums and shooting a blockbuster movie in honor of the 1911 Revolution, whose centenary will be celebrated this year on both sides of the Strait.Also known as the Xinhai Revolution, the uprising in 1911 was remembered for creating the Republic of China, the first republic in the Asian history.Its spiritual leader, Sun Yat-sen, was also the founder of the Kuomintang (KMT).The Republic of China, however, ended its rule after the KMT was defeated by the Chinese Communist Party (CPC) and retreated to Taiwan in 1949.Both the Chinese mainland and Taiwan have promised a grand celebration of the revolution's 100-year anniversary, which will fall on October 10 this year.On the mainland, an epic movie depicting the revolution will hit the screen in September to recall the event.Named Xinhai Revolution, the movie stars over 70 leading Chinese actors and actresses, including Jackie Chan, Li Bingbing, and Winston Chao.It is another blockbuster China has made to present landmark revolutions.The previous film was Founding of a Republic, which hailed the 60th anniversary of the birth of the People's Republic of China in 2009.Apart from encouraging people to attend the cinema, many Chinese cities are also arranging exhibitions featuring the revolution.In the central Chinese city of Wuhan, where the revolution began, a new museum, the 1911 Revolution Museum, will be opened on the eve of the centenary.The city has also mounted a global search for lost materials and artifacts related to the revolution, said He Xiaoxu, the chief of Wuhan Bureau of Culture."The city government will assist in the work of gathering materials for the museum and fund the purchases," said He.So far, the museum has received 40 pieces of artifacts retrieved by purchases and 70 by donations, including three from Taiwan.The three artifacts, including one photograph and two calligraphies by revolutionary figures, were contributed by the leader of a Taiwan-based exchange promotion organization.Yang Yi, spokesman for the Taiwan Affairs Office of the State Council, said the Chinese mainland supported a joint celebration of the anniversary with Taiwan."The commemoration of the revolution will help unite people across the Strait in achieving the great rejuvenation of the Chinese nation," said Yang.
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