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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, Jan. 3 (Xinhuanet) -- Chinese scientists have made a breakthrough in spent fuel reprocessing technology that could potentially solve China's uranium supply problem, Chinese television reported on Monday.The technology, developed and tested at the No.404 Factory of China National Nuclear Corp in the Gobi desert in remote Gansu province, enables the re-use of irradiated fuel and is able to boost the usage rate of uranium materials at nuclear plants by 60 folds."With the new technology, China's existing detected uranium resources can be used for 3,000 years," the China Central Television reported.China, as well as France, the United Kingdom and Russia, actively supports reprocessing as a means for the management of highly radioactive spent fuel and as a source of fissile material for future nuclear fuel supply.This Dec 26, 2008 file photo shows a huge construction site of the expansion project of the two million-kw generating units in the Qinshan Nuclear Power Plant in Haiyan, East China's Zhejiang province.But independent scientists argued that commercial application of nuclear fuel reprocessing has always been hindered by cost, technology, proliferation risk and safety challenges.China has 171,400 tonnes of proven uranium resources spread mainly in eight provinces -- Jiangxi, Guangdong, Hunan, Xinjiang, Inner Mongolia, Shaanxi, Liaoning and Yunnan.China is planning a massive push into nuclear power in an effort to wean itself off coal, the dirtiest fossil fuel. It now has 12 working reactors with 10.15 gigawatt of total generating capacity.China has set an official target of 40 gigawatts (GW) of installed nuclear generating capacity by 2020, but the government indicated it could double the goal to about 80 GW as faster expansion was one of the more feasible solutions for achieving emissions reduction goals.As such, China will need to source more than 60 percent of the uranium needed for its nuclear power plants from overseas by 2020, even if the country moves forward with a modest nuclear expansion plan, Chinese researchers say.

BEIJING, Dec. 29 (Xinhua) -- A senior official from China's Ministry of Commerce called for enhanced trade and economic cooperation between China and the European Union (EU), prior to Chinese Vice Premier Li Keqiang's upcoming visit to three EU nations.In a recent interview with the People's Daily, Ministry of Commerce International Trade Representative Gao Hucheng reviewed the current trade and economic relationship between China and the EU, pinpointing the areas where more efforts could be made on both sides to further cooperation.In an article published in Wednesday's People's Daily, Gao said that in the past 35 years since China and the EU forged diplomatic ties, the relations between the two sides went from "constructive partnership" to "comprehensive partnership" and the now "comprehensive strategic partnership."The article was published about a week before Vice Premier Li sets out to visit Spain, Germany and Britain on Jan. 4-12.Trade between China and the European Union has become one of the most active and influential bilateral relations in the world, said Gao.Leaders of China and the European Union have been exchanging official visits frequently, said he. This year alone, seven of top Chinese leaders, including President Hu Jintao and Premier Wen Jiabao, paid official visits to over a dozen EU countries.Meanwhile, some 65 high-level delegations from the EU and its member states visited China in 2010.Trade cooperation between China and the EU has been speeding up, Gao said. When China established diplomatic relations with the EU in 1975, annual trade was at 2.4 billion U.S. dollars, the volume of about two days between two sides this year. In the past 35 years, trade volume has grown over 150 times.According to China's statistics, China-EU trade amounted to 433.9 billion U.S. dollars in the first 11 months of this year, up 33.1 percent from last year, a growth rate higher than that of China-Japan and China-U.S. trade.According to statistics released by the EU, its exports to China rose 4 percent in 2009 despite the economic recession and decreased export to the rest of the world. EU's total investment in China has exceeded 70 billion U.S. dollars so far, making the EU China's third largest source of foreign investment.Communication between people on two sides has grown substantially over the years. Nowadays nearly 200,000 Chinese students are studying in the EU countries and some 150,000 EU nationals are working in China. Over a million Chinese tourists travel to the EU countries every year.Gao pointed out that as the largest developing country in the world with fast economic growth, China could forge complimentary economic ties with the EU, as they stand at different places in economic development.On future economic policies, Gao said China was commited to expanding its domestic demand, adjusting its economic structure, and continuing its open-door policy, which is indispensable to China's development. He said the country's on-going economic reform offered great potential for investment and consumption, and gave other countries, including those in the EU, excellent business opportunities.Gao encouraged politicians and entrepreneurs on both sides to take a more holistic view of China-EU economic and trade relations and cooperate more actively in many sectors of the economy.

HANGZHOU, Nov. 19 (Xinhua) -- Rescue efforts are continuing to save a worker trapped 18 meters under sea surface for almost 18 hours in Jiaxing Harbor, east China's Zhejiang Province, local authorities said.The worker, 43, surnamed Fan from central China's Hubei Province, was stuck at the bottom of a steel shielding canister in which he was working at 9 a.m. Thursday. The shielding canister deformed under sudden increase of hydraulic pressure from flood tide, according to local media report.The shielding canister, a part of an offshore platform, is one meter in diameter. Fan was working at the bottom of the canister that joins a cement column when the incident happened.Rescue staff said, "We are making slow progress because of complex geological conditions. The deformed section, about two to four meters under the sea surface, has been squeezed to only 3cm wide at the narrowest part."Thankfully, the shielding canister has not fractured, though seriously deformed.Rescue workers have decided to cut the cement column off the seabed to lift the shielding canister.Rescue efforts started at 10 a.m. Thursday. Food, including ham sausages and drinking water were supplied to the worker, through a flexible pipe. Fan asked for some cigarettes.Fan's family members have arrived at the site, praying for him at the bank.