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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.

ISLAMABAD, Dec. 18 (Xinhua) -- China and Pakistan signed a number of trade deals worth about 10 billion U.S. dollars, visiting Chinese Premier Wen Jiabao said here Saturday.Addressing the China-Pakistan Business Cooperation Summit in Islamabad, Wen said the deals reflected the huge potential for expanding bilateral economic and trade cooperation.The two sides inked some 20 trade deals during Wen's visit covering projects in the sectors of new energy, agriculture, cotton yarn and non-ferrous metal imports.Chinese Premier Wen Jiabao speaks during the Pakistan-China Business Cooperation Summit in Islamabad, Pakistan, Dec. 18, 2010. A major deal is aimed at developing wind and solar power. Another one is on remote sensing satellite between the Pakistan Space and Upper Atmosphere Research Commission and the China Great Wall Industry Corporation."Currently, the existing difficulties in our trade cooperation are temporary problems, which we could completely overcome with joint efforts," Wen said.The Chinese premier, who arrived here Friday, urged a boost in the scale of bilateral trade and investment. The China-Pakistan trade volume only accounted for one-tenth of Pakistan's overall foreign trade, he said, voicing his hope that the two-way trade could top 10 billion dollars as soon as possible.With regard to trade imbalance, Wen said China understood the concern of Pakistan on the imbalance, and has taken measures to address the issue."China is ready to work closely with Pakistan to push forward the building of a bilateral free trade area in an all-round way, and gradually grant zero-tariff status to more Pakistani products," he said.He vowed to send a trade and investment promotion delegation to Pakistan for purchase purposes at an appropriate time, hold commodity fairs for South Asian countries, and offer favorable terms for Pakistani products.Calling trade cooperation a link for the China-Pakistan cooperation, Wen said the bilateral trade has witnessed remarkable growth and benefited both peoples.Bilateral trade volume increased to 6.8 billion dollars in 2009 from 1 billion dollars in 2000.Though affected by the global financial crisis and natural disasters, the two-way trade in the first 10 months of 2010 reached the total volume of 2009, an increase of 27 percent over the same period of last year, Wen said.

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. 21 (Xinhua) -- Chinese lawmakers on Tuesday continued discussing a draft amendment to the country's Criminal Law which, if passed, could criminalize the act of "drunk driving".The draft amendment, which was tabled during a bimonthly session of China's top legislature on Monday for the second reading, stipulates that the act of car racing, which has caused "serious consequences", or drunk driving, are violations of the Criminal Law and convicted car racers or drunk drivers would be detained and fined.Currently, those suspected of drunk driving or street racing, if no serious consequences such as road accidents are caused, are not charged with criminal offences and are only subject to administrative or civil penalties.According to the road traffic safety law, drunk drivers will face up to 15 days in detention and their driving licenses will be suspended from one to six months. Meanwhile, drivers will have to pay a fine ranging from 200 yuan (30 U.S. dollars) to 2,000 yuan.On the other hand, when drunk driving has become vital or has caused "serious consequences", drivers are ruled to be committing traffic crimes or crimes against public security and receive jail terms ranging from no more than three years detention or more than seven years imprisonment.The latest amendment stipulates that drunk driving, even if it has caused no road accidents or other serious consequences, would constitute a criminal offence.According to China's current standard, drunk drivers refer to those having 80 milligrams of alcohol in 100 milliliters of blood.Xia Ji'en, a member of the Standing Committee of the National People's Congress (NPC), China's top legislature, hails the proposal to criminalize the act of drunk driving as "progress" that would better protect people's safety and reduce the frequency of drunk driving.Xia proposed imposing harsher penalties for drunk drivers who caused road accidents.Member Lang Sheng said administrative detention for drunk drivers is having little effect on quelling the practice of drunk driving, and criminalizing the act of drunk driving would work more effectively.However, NPC Standing Committee member Fang Xin proposed to fully consider the consequences of criminalizing drunk driving.A civil servant could no longer keep his post if he commits a crime, even if its drunk driving and no one was hurt, according to Fang.Member Li Lianning suggested authorities mete out punishment for drunk drivers based upon the severity of their cases and take a cautious approach in legislation.In most cases, a draft law will be read two or three times before being passed.China's fast economic development has enabled a growing number of Chinese to realize their middle class dream of owning a car.China' s auto sales jumped past the United States to reach record levels in 2009. China had 199 million motor vehicles on its roads as of September, including 85 million cars, according to the Ministry of Public Security.However, in a country where drinking liquor is an important part of the dining ritual, the pleasures of drinking alcohol have made drunk driving sometimes an unavoidable practice.In 2009, Chinese police apprehended 313,000 drunk drivers.Earlier this month, Gu Qingyang, a post office official in Luoning County of central China' s Henan Province, was arrested after he, under the influence of alcohol, drove his car into five teenagers before trying to escape.More fatal car accidents in big cities such as Chengdu, Nanjing and Hangzhou have triggered heated public complaints and calls for stricter penalties for drunk driving.