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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.

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. 6 (Xinhua) -- A well-known economist said Monday that the biggest problem in China is not inflation, but shifting its economic structure to maintain sustainable growth."The biggest challenge faced by China is economic restructuring in order to shift the economy to a more balanced way that will provide sustainable economic growth," Stephen Roach, former chairman of Morgan Stanley Asia, told Xinhua."In the post-crisis environment, the shift means to build a consumer-led economy, and that is the overriding challenge in China," said Roach, who currently serves as non-executive chairman of Morgan Stanley Asia.Residents' incomes in China remain at a low level. "People's incomes are only 42 percent of the GDP, whereas in the US the rate is 86 percent. So the government should raise the income of the citizens, especially when China wants to stimulate domestic private consumption," said Roach."Of course, that does not mean the Chinese government should ignore the risk of higher inflation," he said.Official data showed that China's October Consumer Price Index (CPI), a major gauge of inflation, rose to a 25-month high at 4.4 percent."There is a certain amount of momentum to inflation, so it's likely to be the a problem over the next 12 months. If the government acts quickly, it will be able to limit the problem, or else China could be facing this problem in 2012 as well," said Roach.Roach suggested China should take broad and comprehensive approaches in dealing with inflation, and the medium-term goal of the shifted economic structure need to be maintained."The government has to demonstrate its resolve in dealing with inflation, and property market assets. It's a challenge, but I think the government is up to the challenge," according to Roach.

MINSK, Dec. 21 (Xinhua) -- China and Belarus have a bright prospect for cooperation as the two countries share highly economic complementarity, says the Chinese ambassador to Belarus.Ambassador Lu Guicheng said that in recent years, China-Belarus ties have expanded rapidly and have been promoted by the leaders of both countries.The ambassador also said in the interview with Xinhua that the two countries are mutually supportive of each other on global affairs and frequent interactions between senior officials of the two countries have injected strong momentum into the development of bilateral ties.Lu also stressed that China-Belarus reciprocal economic cooperation is flourishing, with the smooth development of some major cooperative projects on infrastructure construction."China and Belarus are economically complementary on resource, market, fund and equipment, and thus share a broad prospect for cooperation," Lu told Xinhua.Meanwhile, the diplomat mentioned the profound friendship between the Chinese and Belarusian peoples.After a deadly earthquake struck China's northwestern region of Yushu in April, Belarus was among the first to extend condolences and provided aid to the people affected, Lu said.

来源：资阳报