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BEIJING, Aug. 8 (Xinhua) -- China will continue to strengthen international judicial cooperation with other countries, including the United States, a spokesperson for China's Ministry of Justice said. The unnamed spokesperson made the statement while commenting on the case of two former Bank of China (BOC) managers in southern Guangdong Province, who were convicted in a U.S. court last year of embezzlement and money laundering, the Legal Daily reported Friday. "China welcomed the verdict by the U.S. court," which sentenced Xu Chaofan and Xu Guojun, two former managers of the BOC Guangdong Kaiping Branch, and their wives, to prison terms of eight to 25 years, the spokesperson said. Xu Chaofan was sentenced to 25 years in jail and Xu Guojun to 22 years. Their wives were each sentenced to eight years in prison. All four were further sentenced to three years of supervised release and ordered to pay 482 million U.S. dollars in restitution. The four were found guilty of a racketeering conspiracy that began in 1991 and continued until October 2004. Prosecutors said the defendants laundered stolen money through Hong Kong, Canada and the U.S., including 3 million U.S. dollars deposited at several Las Vegas casinos. The case was one of the biggest of its kind since the founding of New China in 1949. It has, however, reinforced the positive development of Sino-U.S. judicial cooperation and provided experience in dealing with organized economic crime. "Fleeing suspects are doomed to be punished by law," said the spokesperson. International judicial cooperation, an effective way of fighting crime, would contribute to the crackdown on trans-national crimes, he said. Professor Huang Feng of the Beijing Normal University's Criminal Law Research Institute said Xu's sentencing in the U.S. provided "an alternative to extradition" as the two countries had not signed an extradition treaty. Fleeing suspects could still be convicted abroad, though they currently could not be repatriated, Huang said. Foreign Ministry spokesman Ma Zhaoxu said in May the two guilty couples should be repatriated or extradited to China as soon as possible.
TANGSHAN, Hebei Province, Oct. 16 (Xinhua) -- Chinese top political advisor Jia Qinglin Friday called for international cooperation, shared responsibility and dialogue to promote sustainable development worldwide. "Green development should be a common cause for the world," said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the opening ceremony of the first Caofeidian Forum held in Tangshan, northern Hebei Province. Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, speaks at the opening ceremony of the First Caofeidian Forum in Tangshan City of north China's Hebei Province, Oct. 16, 2009He suggested that the government of all countries should develop their own roadmap of green development based on the reality of their countries and adopt effective policies. "It is a shared responsibility for the world to improve energy efficiency and reduce greenhouse gas emission," he said. He called for developed countries to lead the cause and provide financial and technical support for developing countries to cope with climate change. Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference, inspects the Nanhu ecological area in Tangshan City of north China's Hebei Province, Oct. 15, 2009. Jia Qinglin made an inspection tour in Tangshan from Oct 15 to 16New technologies in energy saving, environmental protection and new energy application should be widely used, he said. "The international society and governments of all countries should strive to set up a new mechanism that smoothes international technological exchange while protecting intellectual rights." Jia also suggested that the world should explore sustainable development through dialogue. "China will stick to the sustainable development," he said. "We will work to build a resource-saving, environmentally-friendly and innovative country." The three-day forum was the first permanent international forum themed on the sustainable development initiated by China. It will be held every two years.
BEIJING, Sept. 29 (Xinhua) -- China will lower gasoline and diesel prices by 190 yuan (27.8 U.S. dollars) per tonne from Wednesday, the National Development and Reform Commission (NDRC) announced Tuesday. The benchmark price of gasoline will be 6,620 yuan a tonne, and for diesel 5,880 yuan a tonne, according to the NDRC. The retail price of gasoline will drop by 0.14 yuan per liter and that of diesel will decrease by 0.16 yuan per liter. It is the eighth fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on Jan. 1 and the first reduction of fuel prices in two months. Under the pricing mechanism, the NDRC will consider changing the benchmark retail prices of oil products when the international crude price changes more than 4 percent over 22 straight working days. The price cut was in accordance with the international price changes, the NDRC said. The average crude price of Brent, Dubai and Cinta has declined to 71.52 U.S. dollars a barrel, down 5.02 percent since the previous fuel price adjustment, according to the Shanghai-based CBI (China) Co., Ltd., a leading service provider in Chinese commodity markets.
PINGYAO, Shanxi, Sept. 19 (Xinhua) -- A photo exhibition exclusively dedicated to Canadian surgeon Henry Norman Bethune opened Saturday at the Pingyao International Photography Festival in north China's Shanxi Province. Bethune is a household name in China, a country where he saved numerous lives and sacrificed his own in 1939 during China's War of Resistance Against Japanese aggression. "He is noble-minded and pure, a man of moral integrity and above vulgar interests, a man who is of value to the people," Chairman Mao wrote in his article In Memory of Norman Bethune. The exhibition consists of 41 photos of Dr. Bethune living and working in China, some of which had never been shown before. "As Canadians, we are all proud to be associated with this visionary adventurer and deeply touched by the respect and recognition shown to him here in China," said Canadian Ambassador to China, David Mulroney. Most of the pictures were provided by Wang Yan, daughter of ShaFei, who was a forefather of China's news photography and a close friend of Bethune. "I remember that I was touched when I first read about Bethune in my school days and now it feels like looking at the pictures of an old friend who has just passed away," said visitor Wu Jun. "Many people love Bethune for they have learnt his deeds and spirit in Chairman Mao's article while my affection for him comes from his friendship with my father," Wang said. "Bethune was my father's mentor as he exemplified the essence of communism." Upon his death Bethune left his Kodak Retina camera to Sha Fei. Bethune also healed Japanese soldiers, took pictures of them, which were sent back to Japan. "He wished the Japanese people would protest against the war when they saw how their sons were suffering on battlefield. He was a true humanist," Wang said. Just before he died, Bethune wrote in a letter, saying that the last two years (those he spent in China) have been the most significant, the most meaningful years of his life.
BEIJING, Aug. 23 (Xinhua) -- China's insurance capital investments hit 2.45 trillion yuan (358 billion U.S. dollars) in the first seven months of this year, according to the country's insurance regulator. In July alone, the investments from insurance funds stood at 120.4 billion yuan, China Insurance Regulatory Commission (CIRC) said in a report on its website. Of the total insurance investment value, about 332 billion yuan, or 9.8 percent, went to the stock markets by the end of the second quarter of this year. During the same period, mutual funds investments suck 228.45 billion yuan, or 6.8 percent from the insurance capital. A booming equities market and an optimistic attitude towards the country's stock markets had led to an increasing investments, said the CIRC. Comparatively, in the first seven months, bank deposit of China's insurance capital decreased to 1.03 trillion yuan, 15.23 billion yuan less than in the first six months. The CIRC's statistics also reflected a slowdown increasing rate in premium income in the first seven months. Premium income was 678.64 billion yuan, representing a small increase of 80 billion yuan than the June figure.