Economic Observer News- China business, politics, law, and social issues

REAL ESTATE: Housing Prices Up 10.3% in July; The housing prices in seventy large- and medium-sized cities increased by 10.3% in July on the level of the same period last year, down on the year-on-year growth of 11.4% in June, according to data published on the website of the National Bureau of Statistics. The prices of newly-constructed houses increased by an average of 12.9% while those of second-hand apartments increased by 6.7% in the yea...; National Bureau of Statistics | 2010-08-10

REAL ESTATE: Vanke, Poly and Gemdale Publish Half-year Reports; Three Chinese property giants, Vanke, Poly and Gemdale, published their half-year reports earlier today. The sales volumes of Vanke and Poly reached 36.77 billion yuan and 21.75 billion yuan respectively and the net profit belonging to the shareholders of Gemdale was 1.22 billion yuan, up 327.02% on the level of the same period last year.; China Securities Journal | 2010-08-10

LAW: Supreme People's Procuratorate: Individuals Who Criticize Officials Shouldn't be...; Individuals who have criticized or offended government or party officials should not be considered as having committed the crime of defamation any more, according to the Supreme People's Procuratorate. An unnamed official also told reporters that all cases of public prosecutors seeking to charge individuals with libel or defamation, have to be approved by the procuratorate at the next level up, be...; The Beijing Times | 2010-08-09

INDUSTRY: Over 2,000 Enterprises with Outdated Facilities Required to Stop Production; The Ministry of Industry and Information Technology published a list of 2,087 enterprises across 18 industries that use outdated or energy intensive facilities. The ministry has required all of these businesses, some of which are listed companies, to stop production at these facilities before the end of September.; The Beijing News | 2010-08-09

EQUALITY: NDRC Researcher: China's Income Gap Continues to Expand; China's income gap has continued to widen since official figures put the country's Gini Coefficient, a measure of inequality of income distribution, at 0.44 in 2004, according to Yang Yiyong, a researcher with the National Development and Reform Commission's Social Development Research Institute, in a presentation to a forum this past weekend. The Gini coefficient will be a number between zero and...; China News Service | 2010-08-09

: Provinces Cancel Preferential Power Prices for Energy-intensive Industries; To ensure China can meet the energy-saving and carbon-emission targets set in the country's 11th Five-Year Plan, 22 provinces have stopped supplying electricity at preferential prices to energy-intensive enterprises.; China National Radio | 2010-08-09

HOME SALES: Total Area of Housing Sales in Beijing up 22% in July; The growth rate of the area of homes sold in Beijing reached 22.18% in July, thanks to some developers’ strategy of cutting prices and purchases by non-speculative home buyers, statistics from the China Index Academy show. They also indicate, among the 30 cities monitored, 18 have experienced an increase in the area of housing sold in July.; The Beijing News | 2010-08-06

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House Prices Up 10.3% as Banks in Major Cities Stop Offering Loans to ...: The average price of housing in seventy large- and medium-sized cities increased by 10.3 percent in July; Source:National Bureau of Statistics

Gome Escalates Dispute with Former Chairman: The dispute between Gome Electrical Appliances, China's leading home appliance provider, and its former chairman, Huang Guangyu, has escalated.; Source:The Beijing News

EUROPE: Interview with French Minister for Economy, Indust...; We cross the zebra-print carpet of Madame Lagarde's Paris office to ask her about the outl...