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

FOOD SUPPLY: State Council to Ensure Stable Vegetable Prices; Premier Wen Jiabao stated at an executive meeting of the State Council on August 18 that the State Council will stabilize vegetable prices by stepping up enforcement of existing policies. These include leaning on city officials to monitor the local vegetable supply, expediting the construction of vegetable production sites, and implementing ways to improve produce delivery and circulation.; Economic Information Daily | 2010-08-19

STATE-OWNED ENTERPRISES: State-owned Enterprises Report Profits of over 1 Trillion Yuan in First Seven Mo...; State-owned enterprises have earned a total profit of 1.09 trillion yuan in the first seven months of this year, a 50.1% increase from last year. However, since profits in July are down 11.55% from June profits, monthly growth rates may be slowing.; China Securities Journal | 2010-08-19

SECURITIES: China Everbright Bank Shares Begin Trading Today; Shares of China Everbright Bank will begin trading on the Shanghai Stock Exchange today. Investors are closely monitoring the bank’s performance against the Agricultural Bank of China, and using their debut share price to gauge the bank’s future influence on the A-share market.; China News Service | 2010-08-18

STAPLE GOODS: Prices of 57 Staple Goods Up 7% in July; The prices of 57 everyday food items have risen 7% in July, a growth rate 1.2 percentage points higher than that of June 2010, said Yao Jian, spokesman of the Ministry of Commerce in a monthly press briefing yesterday. He went on to say that due to high temperatures and persistent rainfall in the past month, the wholesale prices of 18 vegetables and eggs have increased by 49.7% and 9.3%, respectiv...; The Beijing News | 2010-08-18

BANKING: Foreign Institutions Granted Permission to Invest in Interbank Bonds Market; The People’s Bank of China has announced a pilot program allowing certain foreign institutions to invest in the country’s interbank bonds market using the Yuan. The Bank has outlined specific guidelines for the qualifications, thresholds and operation models for foreign investment in the interbank bonds market.; People's Daily | 2010-08-18

MINIMUM WAGE: Minimum Wage Raised in 27 Provinces This Year; Yesterday, Qinghai Province announced a decision to raise its provincial minimum wage starting September 1st. Qinghai becomes one of 27 provinces to raise its minimum wage in 2010. Shanghai currently has the highest minimum wage at 1,120 Yuan per month. Jiangxi and Anhui provinces are recorded as having the lowest, with a minimum wage of 500 Yuan. Over 20 provinces have raised minimum wage rates b...; The Beijing News | 2010-08-18

POLICY: Beijing to Control Cost of Housing Demolition; The Beijing government seeks to regulate the cost of demolition and the relocation of homeowners, according to a notice released by the government. With rising housing costs, the cost of demolition and resettlement compensation has also surged in recent years.; The Beijing News | 2010-08-17

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Mainland Students Allowed to Study in Taiwan: The Taiwanese legislature has passed the amendments of three laws, providing access for mainland students to enter Taiwan's colleges.; Source:The Beijing News

China Appoints Old Hand to Revived Trade Representative Position: After leading trade negotiations with the US and EU 5 years ago, Gao Hucheng is back as China's new International Trade Representative; Source:Ministry of Commerce

EUROPE: Interview: Professor Udo Steffens of the Frankfurt...; A discussion with professor Steffens of the Frankfurt School of Finance & Management about...