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BEIJING, Jan. 12 (Xinhua) -- Chinese Vice President Xi Jinping on Wednesday urged the Hong Kong-based Chinese General Chamber of Commerce (CGCC) to increase support for the local government and further contribute to regional economic development."Hong Kong's current situation is good in general, but it also faces many challenges. As an important patriotic group, the CGCC should shoulder its responsibilities to ensure and boost the region's prosperity and stability," Xi said in Beijing while meeting a visiting CGCC delegation.Xi noted that the group had been making great contributions to Hong Kong and the mainland by actively participating in the region's social affairs and economic development.Xi said Hong Kong had overcome problems created by the global financial crisis, and was undergoing a strong economic revival.Xi also said that the central government had been taking effective measures to support the region's economic development and improve local people's livelihoods.The CGCC, founded in 1900, is one of the oldest and largest non-profit organizations of local Chinese firms and businessmen in Hong Kong. It has more than 6,000 members.The delegation was led by CGCC chairman Jonathan Choi Koon-shum.

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, Dec. 11 (Xinhua) -- China's urban fixed asset investment rose 24.9 percent in the first 11 months year on year to hit 21.07 trillion yuan (3.19 trillion U.S. dollars), China's statistics authority said Saturday.The growth rate was 0.5 percentage points higher than that during the first ten months, according to figures released by the National Bureau of Statistics (NBS).The urban investment in the primary, secondary and tertiary industries rose by 16.6 percent, 22.7 percent and 26.9 percent respectively.During the first 11 months, investment in central government projects rose 10.2 percent year on year to 1.68 trillion yuan, while investment in local government projects was up 26.4 percent to reach 19.39 trillion yuan, according to the NBS figures.Property development investment was up 36.5 percent year on year to reach 4.27 trillion yuan, the figures showed.During the same period, state-owned and state-controlled investment reached 8.75 trillion yuan, up 19 percent from a year earlier.Investment in railway constructions and transportation jumped 25.3 percent to 582.2 billion yuan, while investment in petroleum and gas exploration climbed 5.8 percent to 219.4 billion yuan for the first 11 months.

BEIJING, Nov. 9 (Xinhua) - China's consumer price index (CPI) is expected to rise by slightly higher than the government's target of 3 percent this year, Zhang Ping, head of the National Development and Reform Commission, said Tuesday.Besides upward pressure on commodities prices due to natural disasters and imported inflation, loose domestic liquidity and speculation factors have also contributed to the prices hikes, Zhang said at a coal industry conference, adding that the government is paying close attention to domestic commodities prices, especially farm produce prices.Citizens shop at a supermarket in Haikou, capital of south China's Hainan Province, on Aug. 11, 2010.Zhang also said that edible oil is plentiful, though cotton and vegetables are projected to be in short supply during the rest of the year.Additionally, food prices, which account for one-third of weight in calculating the CPI in China, climbed 8 percent in September, pushing the CPI to reach a 23-month high of 3.6 percent in September.