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Article 148 of the Civil Code of People's Republic of China (PRC) * * * If a party commits a civil legal act against its true meaning by fraudulent means, the defrauded party has the right to request the people's court or an arbitration institution to cancel it.
Article 224th of the Criminal Law of People's Republic of China (PRC) commits one of the following acts. Whoever, for the purpose of illegal possession, defrauds the other party of property in the process of signing and performing a contract, if the amount is relatively large, shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention and shall also or only be fined;
If the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than ten years and shall also be fined;
If the amount is especially huge or there are other especially serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than 10 years or life imprisonment, and shall also be fined or confiscated:
(1) Signing a contract in the name of a fictitious unit or others;
(5) defrauding the other party's property by other means.
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