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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, Dec. 31 (Xinhua) -- A revised version of China's Regulation on Work-Related Injury Insurance will take effect Saturday, raising compensation standards while expanding the coverage to more organizations.The previous regulation stipulated that the compensation to families of workers who die on the posts is no more than five times the average annual salary in the previous year. The sum varies depending on the regions where the workers are working.Under the current system, the national average compensation is about 100,000 yuan, but the lowest regional average compensation is about 40,000 yuan.The new regulation raises the compensation to 20 times the national annual disposable income for urbanites per capita in the previous year, which means about 340,000 yuan according to 2009 statistics.In addition, the revised regulation covers the country's public institutions, social groups, non-profit grass-root organizations, foundations, law firms and accounting firms.Previously, the rules only include enterprises and small businesses and their employees in the system.
Amman, Nov. 10 (Xinhua) -- Jordanian King Abdullah II on Wednesday met with Xu Caihou, vice chairman of China's Central Military Commission, who is on his Middle East trip to boost ties with Arab countries. They discussed bilateral and regional matters of common concern during the meeting.The Jordanian king said China is an old friend of Jordan. The two countries have a lot of common interests and share similar views on various international issues. China and Jordan are cooperating well in large construction projects, industries and defense and securities.The king also conveyed his gratitude for China's economic and political supports to Jordan, and stressed that the two countries should further strengthen their exchanges and cooperation in all aspects. Jordanian King Abdullah II (R) meets with Xu Caihou, vice chairman of China's Central Military Commission, in Amman, Jordan, Nov. 10, 2010.For his part, Xu said that Jordan is China's important trade partner and thanked the king for his country's supports to China for issues related to Taiwan, Tibet and Xinjiang.On the other hand, China supports the just cause of the Arab states, and backs Jordan's role in the process of achieving fair and lasting peace in the Middle East, said the Chinese official.Xu arrived in Amman on Wednesday for a three-day visit. Jordan is the last leg
BEIJING, Dec. 31 (Xinhua) -- China is poised to further improve its people's livelihoods and promote social equity in 2011, the inaugural year of implementing its development blueprint for the 12th Five-Year-Plan period.Only with deep respect and extensive care for people's wills and interests can a ruling party have inexhaustible support from the people and the country, under the leadership of such a party, can accomplish remarkable achievements in development.China, under the leadership of the Communist Party of China (CPC), is prepared to further deepen reforms in education, health care, housing, public cultural services and enhance investment in people's livelihoods in the new year.Also, more attention of the authorities will be given to protecting the legal rights of China's vulnerable groups and ordinary workers, as well as fulfilling the general public's expectations for a better life.Thanks to the strong leadership of the CPC, China has succeeded in keeping a strong pace in social and economic development over the past year, which marks the perfect conclusion of its well-implemented plan for the last five years (2006-2010).In 2010, China had a relatively rapid economic development. It picked up steps towards economic restructuring and achieved a seventh consecutive year of growth for China's grain output, as well as bettering people's livelihoods, deepening reforms and opening up.China successfully stood the test of natural disasters, including widespread droughts in the southwest region, a 7.1-magnitude earthquake and a huge landslide in northwest Qinghai and Gansu provinces.The government's quick and efficient responses to these emergencies have, for another time, demonstrated the superiority of China's socialism and the great achievements in China's reform and opening up.The country also held the Shanghai World Expo which, attracting 246 participating countries and international organizations and a record number of 73 million visitors, has been hailed as the largest ever such event.Further, the 16th Asian Games held in the southern China city of Guangzhou drew some ten thousand athletes from 45 countries and regions in Asia to compete.The two events provided a splendid picture of how Chinese culture and the world's other cultures co-exist in harmony and displayed a broad-minded and open image of China.All those experiences and achievements China earned in 2010 has set a strong foundation for China to further its reforms and development in the forthcoming five years.A critical period for China to build a well-off society in an all-around way, the coming five to ten years will be a more difficult phase of China's reforms, which will be marked by the interweaving of short-term and long-term problems, structural and systematic problems, as well as domestic and international challenges.That means China will be faced with a more urgent and challenging task in transforming its economic growth mode, improving people's livelihoods and safeguarding social stability.But, basically, China is still within a period of strategic opportunities for its development. China should grasp opportunities for development while tackling challenges.In 2011, China is set to speed up its economic restructuring, with more attention directed to stabilizing its overall price level.China will step up its move towards a coherent and sustainable economic development, maintaining a balance between the speed of development on the one hand, and the economic structure and the quality and efficiency of economic growth, on the other.It is convinced that China, with a strong CPC leadership, will make greater achievements in development in a scientific way and well resolve social and economic conflicts and disputes in 2011, thus advancing the socialism with Chinese characteristics into a brighter future.
ISLAMABAD, Dec. 23 (Xinhua) -- Pakistani Acting President and Senate Chairman Farooq Hamid Naek and National Assembly Speaker Fehmida Mirza visited the newly-launched Pakistan-China Friendship Center in Islamabad on Thursday.Naek and Mirza, with the company of Chinese Ambassador to Pakistan Liu Jian, visited the friendship hall, conference rooms and other facilities in the center.They also toured a photography exhibition highlighting the history of the bilateral ties and an exhibition of masterpieces of the Chinese brush painting.In a message left on a guestbook, Naek viewed the friendship center as a symbol of the close friendly brotherly ties between the two countries. He said the building and the layout are excellent and praiseworthy.Pakistan's Senate Chairman Farooq Hamid Naek (R), accompanied by Chinese Ambassador to Pakistan Liu Jian (L), visits the Pakistan-China Friendship Center in Islamabad Dec. 23, 2010. The center was inaugurated on Dec. 18 by Chinese Premier Wen Jiabao and his Pakistani counterpart Yousuf Raza Gilani. After her visit to the culture complex, Mirza said that all the facilities are much-needed, and it is an excellent gift from China for the people of Pakistan.Referring the year 2011 as Pakistan China Friendship Year, she hoped that cultural and social activities held in the center will further strengthen the existing strong ties and the brotherhood.The Pakistan-China Friendship Center was jointly inaugurated by visiting Chinese Premier Wen Jiabao and his Pakistani counterpart Yousuf Raza Gilani on Dec. 18.Liu Jian told Xinhua that the friendship center is not only a symbol of the friendship between China and Pakistan, it will also, with its accomplishment and handover, provide an important platform for the exchange of culture and economic trade activities between the two countries.The Chinese ambassador also hoped the center could be well utilized especially in terms of the celebrations of the 60th anniversary of the diplomatic ties between the two countries.Built in the forest garden area of Islamabad, the China-aided center is a multi-functional building with facilities for conferences, lectures, performances, exhibitions, cultural and trade activities. The foundation of the center was laid by Wen during his first visit to Pakistan in April 2005.