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

INTEREST RATES: China Reports Negative Deposit Rate for 7th Consecutive Month; China's CPI increased by 3.5% in Ausust, a 22-month high. But the country's one-year deposit rate is still locked in at 2.25%, making the actual deposit rate -1.25%. This is the seventh month in a row the rate of CPI growth has outpaced the annual deposit rate.; Shenzhen News Online | 2010-09-13

FINANCE: Fiscal Revenue Growth Rate Drops to Single Digits in August; The central government collected 561.93 billion yuan in fiscal revenue in August, up only 7.3% from the same period last year. This is the first time that the monthly growth rate of fiscal revenue has fallen to single digits.; The Beijing News | 2010-09-13

TRANSPORTATION: Ministry of Railways to Offer Online Booking; The Ministry of Railways is negotiating with banks to start an online booking system, a reporter from Guangzhou Daily learned from anonymous source. Online Booking may be piloted by a local line or a high-speed railway.; Guangzhou Daily | 2010-09-13

POLITICS: Website Offers Direct Access to China's Top Political Leaders; People's Daily Online recently opened a channel that allows people to leave messages for the country's leaders. The name of the site translates roughly as "Direct Line to Zhongnanhai" (available here http://cpc.people.com.cn/GB/191862/191863/index.html) and had already attracted 27,000 messages as of late Sunday evening; most of the comments focused on corruption, housing prices, education reform ...; The Beijing News | 2010-09-13

CORRUPTION: Former Vice-chairman of China Mobile Officially Expelled from Party for Corrupti...; Zhang Chunjiang, the former party secertary and vice-chairman of China Mobile, has been expelled from the Communist Party of China after an investigation by the party's central Commission for Discipline Inspection discovered that he had abused his position for personal gain, accepted huge bribes, violated the relevant provisions in regard to honesty and self-discipline, accepted gifts and led a co...; China National Radio | 2010-09-10

HOUSING PRICES: Housing Prices in 70 Cities Increased by 9.3% in August; According to the National Bureau of Statistics, housing prices in 70 large- and medium-sized cities increased by an average of 9.3% in August, compared to the same period last year. While the area of floor space sold and value of sales decreased by 10.1% and 8.6% respectively from last August, investment in real estate increased by 34.1%.; Xinhua News Agency | 2010-09-10

ENERGY: China to Increase Amount of Energy Sourced from Natural Gas as Part of 12th Fve-...; China will focus on the development of natural gas as a source of electrical power during the period of the 12th Five-Year Plan, says Li Junfeng, deputy director of the Energy Research Institute of the National Development and Reform Commission (NDRC). He also expects the Chinese photovoltaic market to witness significant growth in the next three to five years.; Sina Finance | 2010-09-10

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What is China's People's Congress Up To?: 152 of the 175 delegates that make up the Standing Committee of China's top legislature attended a six day meeting of the body in Beijing late last month.; Source:NPC

The Private Lives of Local Officials to Play a Role in Promotions: Many local governments are issuing new standards to evaluate potential employees that focus on “personal ethics.”; Source:Legal Daily

BOOK REVIEW: September Issue of EO's Book Review; Highlights from this month's edition: Talking Bubbles with Andy Xie