I am U.S. citizen, is there now a visa good for 10 years?

I got a multiple entry tourist L type about a year ago. On my way returning home from Australia, I had 5 day stopover in Hong Kong, during which I entered into chengdu by flight from Hong Kong. So now my one year multiple entry type is about to expire and I want to go to PRC for 2-3 weeks. I heard there is now a type good for 10 years, multiple visits, is this true? If yes, What is the cost? Also if I come to China for two weeks of immersion Chinese instruction and sight seeing. Can I apply for turist L type?