No. 342, Nov 19(1)

By English edition staff
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Published: 2007-11-19
Highlights from the Economic Observer, issue no. 342, Nov 19 2007

Focus Series: Labor Contract Law Explained by a Draftee
Special, page 3
Concrete details on the implementation of the Labor Contract Law are on the cusp of being announced. Gou Jun, vice-director of the Labor Law Society and a consultant in the drafting process, reacts to the collective rush to prepare for the law and talks about what more is in store. [Full English translation of the series will be up soon!]
Original article: [Chinese]

State Council Targets Options in SOE's
From Cover
The government is taking a harsher look at stock option plans in SOE's that are listed abroad. It is said that SASAC, the state assets watchdog under the State Council, believes that many state-owned enterprises are being overly generous with their options, and in the past weeks has called for SOE's to report on their current circumstances.
Original article: [Chinese]

Editorial: Penalty for Late Income Tax Filing too Harsh
From Cover, Editorial
China's new personal income reporting system, which was publicized during the end of last year, calls for the public listing of those who don't make income reporting deadlines. We argue that while practical, it is to early to subject taxpayers to this treatment, as they need more time to understand the nascent and inadequately publicized system.
Original article: [Chinese]

Central Bank Encourages Moderate Yuan Appreciation
From News, page 5
In its third quarter currency policy report, the Central Bank of China has indicated that a moderate appreciation of the yuan would help alleviate inflation pressure-- a different attitude than it held just six months ago, when it supported conservative appreciation.
Original article: [Chinese]

Stirred by New Law, Foreign Mining Tycoons Descend on Beijing
From News, page 7
With the passage of a new law that limits foreign investment on real estate and mining, foreign firms are seeking out Chinese governmental ministries to learn how exactly they will be affected. The new law limits mining for resources that were previously encouraged, and outright bans the mining of others.
Original article: [Chinese]

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