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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.

BEIJING, Nov. 14 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged more efforts be made to accelerate economic restructuring to achieve sustainable development amid concerns of global uncertainties."The global economy is still facing great uncertainties and has not shaken off the deep impact of the financial crisis", Li wrote in an article Xinhua received Sunday, calling for "deep understanding" of the proposal for national development in the next five years.The Communist Party of China (CPC) Central Committee's Proposal on Formulating the 12th Five-year Program (2011-2015) on National Economic and Social Development was issued on Oct. 27 after it was adopted at the Fifth Plenary Session of the 17th CPC Central Committee, which ended Oct. 18.The imbalance of the overall world economic recovery remains and trade protectionism is on the rise, Li wrote in the article while calling for correct understanding of both domestic and international situation.Further, Li warned of the potential damage that will be caused by some governments' excessive debt, noting that some major economies continue their expansionary monetary policies and are pumping enormous liquidity into markets to boost their economic recovery, which may spur turbulence in the global financial market and push up commodity prices.Additionally, the inflow of hot money will affect emerging economies, he said."The world economy is growing slowly and the structure of global demand is changing, which puts new pressure on China in its efforts to stabilize and expand exports and maintain a stable and relatively rapid economic growth," Li wrote.The next five years will be crucial for building a moderately prosperous society in an all-round way, he said."The transformation of the economic development mode brooks no delay, and the key for the transformation is to achieve it at an accelerated speed and with practical effects," he said.Only by transforming the development mode can problems of imbalance and unsustainability be resolved, Li said.The government will work to boost domestic demand, consumption in particular, as a long-term strategy to maintain healthy and stable economic development and transform the economic development pattern, he wrote.It is imperative to keep investment at an "appropriate growth rate" and encourage private investment to expand domestic demand, he said.Efforts should also be made to promote balanced urban-rural development and scientific innovation to upgrade industries.Li said China will also move ahead with "vigorous but steady" political reform while pushing forward economic restructuring.The government will reduce its intervention in economy and let market play the role in resource distribution, Li wrote. He also called for stepping up fiscal and taxation reform and strengthening financial supervision to prevent systematic financial risks.The country will open more fields to the outside and enhance opening up in the inland area, he said.He also called for participation in global economic governance and regional cooperation, speeding up the implementation of free trade zone strategy and opposing trade protectionism, so as to push for the development of a just and rational international economic order.

CANCUN, Mexico, Dec. 11 (Xinhua) -- The outcome of the UN climate change conference in Cancun sent "positive" signals to the international community, the Chinese delegation said Saturday.Conference delegates finally reached a deal to fight global warming early Saturday after an all-night session, overruling an objection from Bolivia."As for the outcome of this conference, first of all, it adheres to the (UN) Convention (on climate change), the Kyoto Protocol and the Bali Roadmap, as well as the principle of common but differentiated responsibilities, which ensures that next year's negotiation will continue along the two tracks decided by the Bali Roadmap," the Chinese delegation said in a statement."Second, progress has been made at different levels in the areas where developing countries have concerns, such as adaptation, technology transfer, finance and capacity building, and the negotiation process will move on, which sends positive signals to the international community," the delegation said.It said the conference failed to conclude the negotiation of the Bali Roadmap and this indicated next year's negotiation task would be "extremely difficult."The delegation expected all parties to display strong political will and conclude the negotiation on the second commitment period of the Kyoto Protocol at the next conference, to be held in Durban, South Africa. In particular, that conference should establish effective mechanisms for finance, technology transfer and adaptation to support developing countries' efforts in addressing climate change, successfully conclude the negotiation in accordance with the mandate of the Bali Roadmap and make a big step forward in the international cooperation in combating climate change.China would continue to make positive efforts towards this end, the delegation said.The delegation reaffirmed that the Chinese government would hold a highly responsible attitude toward the Chinese people and people in the world, and remain committed to promoting green, low-carbon and sustainable development as its contribution to combating climate change.The Chinese delegation also hailed the efforts of the Mexican government and its people during the negotiations and their hospitality. It also appreciated the positive role of the Secretariat of the U.N. Framework Convention on Climate Change.The two-week long talks in Cancun to set new targets and find new ways to combat climate change attracted 25,000 government officials, businessmen and researchers from over 190 countries.

NINGBO, Dec. 7 (Xinhua) -- Chinese Vice Premier Li Keqiang said Tuesday that more efforts should be made to boost the quality and efficiency of China's economic growth and enable all people to enjoy the fruits of the country's reform and opening-up.Li made the remarks at a seminar on drawing up the nation's 12th Five-Year (2011 to 2015) Program in Ningbo City of east Zhejiang Province, which was also attended by top officials of several provinces.The key to grasping the development opportunities and meeting the challenges is accelerating the transformation of China's economic growth pattern, said Li.Li noted that strategic economic restructuring is the key to realizing the transformation and he called for more efforts to boost domestic demand,especially consumption demand, while expanding the opening-up policy.Chinese Vice Premier Li Keqiang (L) speaks at a seminar on drawing up China's 12th Five-Year (2011 to 2015) Plan in Ningbo City, east China's Zhejiang Province, Dec. 7, 2010.He also urged more efforts be made to strengthen the role of innovation in driving growth, quicken the upgrading of traditional industries, develop strategic emerging industries, push forward the service sector, and conserve resources and protect the environment.Another major task of the transformation of China's economic growth pattern is to accelerate the development of social causes and enable urban and rural populations to enjoy the results of the nation's development, said Li.He also said the current task for the government is to maintain stable and relatively fast economic growth, restructure the economy and stabilize consumer prices.

BEIJING, Dec. 1 (Xinhua) -- The Purchasing Managers Index (PMI) of China's manufacturing sector rose to 55.2 percent in November, up 0.5 percentage points from October, the China Federation of Logistics and Purchasing said Wednesday.The figure marked the 21th straight month that the index was above the boom-and-bust line of 50 percent.The PMI includes a package of indices to measure performance of the country's manufacturing sector. A reading above 50 percent indicates economic expansion, while that below 50 percent indicates contraction.