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

GRAIN: China's Demand for Grain to Exceed 500 Million Tons in 2020; Zhang Ping, director of the National Development and Reform Commission, reported to the Standing Committee of the National People's Congress that China's demand for grain will increase to over 500 million tons in 2020. China will have to produce over 500 million tons of grain to keep up with demand if the country hopes to sustain a self-sufficiency rate of 95% in grain supply.; The Beijing News | 2010-08-27

FISCAL REVENUE: China Collects 5.1 Trillion Yuan of Fiscal Revenue in the First Seven Months of ...; The chinese government has collected 5.1 trillion yuan in fiscal revenue in the first seven months of this year, up 25.7% from the same period last year. Fiscal expenditure is reported to be 3.96 trillion yuan, up 16.9% from last year.; Xinhua News Agency | 2010-08-27

PROPERTY: China Continues to Tackle Property Market Speculation; Housing prices continue to skyrocket in many cities. The Chinese government is persisting with policies aimed at tackling speculation and hopes to implement further measures to curb inflating housing prices. Government departments are also looking to improve the policy-based housing system and expedite the construction of government-subsidized housing projects, according to Zhang Ping, the directo...; China Securities Journal | 2010-08-27

DEVELOPMENT: NDRC Publishes Outline of Plan to Boost Central China's Economic Performance; The National Development and Reform Commission (NDRC) published "Suggestions in Relation to the Project for the Promotion of Central China" yesterday. The document offers up a general set of guidelines for the encouragment of development of agriculture, manufacturing and key pillar industries in Hubei, Henan, Hunan, Anhui, Jiangxi and Shanxi. The NDRC expects each of the provinces to come up with ...; China Securities Journal | 2010-08-26

BANKING: Banks Suspend Loans to Property Developers; The Agricultural Bank of China will stop issuing loans to real estate companies, land developers or corporate property developers from August 23 to the end of the month. The Construction Bank of China has also announced that they'll suspend the issuing of loans to corporate property developers, according to an anonymous source with a security company.; National Business Daily | 2010-08-26

HOUSING: Empty Apartments in Chaoyang District: 1.33 Million sqm; According to statistics released on the website of the Chaoyang District government, a total of 1.33 million square meters of residential floor space were left empty from January to July this year. Uninhabited villas and high-end apartments account for almost 40 percent of vacant floor space.; China Finance Information | 2010-08-26

COAL: State Council Discusses Coal Mine Consolidation and Coal Transport; At an executive meeting of the country's State Council held yesterday, members discussed the restructuring of China's coal mining industry and emphasised the development of an inland waterway transport. The meeting coincided with a large and ongoing traffic jam on one of the major arterial roads leading to Beijing that many have attributed to the presence of trucks carrying coal.; Chengdu Business Daily | 2010-08-26

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Township Officials Accused of Pocketing Sichuan Earthquake Donations: Four town-level officials have been accused of embezzling 620,000 yuan worth of Sichuan earthquake relief donations.; Source:The Beijing News

China Releases Ten-Year Forest Protection Plan: China's State Council has passed a recently published "National Plan for the Use and Protection of Forest Land (2010-2020)," put out by the State Forestry Administration; Source:State Forestry Administration

EUROPE: Interview with Jean Pisani-Ferry and Nicolas Veron; We talk to two experts from the Brussels-based European think thank Bruegel