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

JAPAN: National Tourism Administration "Understands" if Tourists Cancel Japan Visit; The National Tourism Administration has expressed "understanding" for Chinese citizens abandoning travel plans to Japan for political reasons. The Japanese government's decision to illegally detain the Chinese captain will severely damage Chinese tourism in Japan, said the spokesman of the National Tourism Administration.; Xinhua News Agency | 2010-09-24

JAPAN: Ministry of Commerce Denies Taking Measures to Restrict Rare Earth Exports to Ja...; The New York Times published a report yesterday claiming that the Chinese government has barred the export of rare earth to Japan. According to a Reuters report, the Ministry of Commerce has denied taking measures to restrict the export of rare earth to Japan, calling the report "groundless".; Sina Finance | 2010-09-24

Car: Automobile Industry Faces Overcapacity as Car-makers Scramble for Land and Inves...; Zhang Jianwei, deputy director of China Automobile Technology Research Center, says that Chinese car makers are eager to purchase land and attract investment, but the whole industry is facing the risk of overcapacity.; CCTV Online | 2010-09-24

CHARITY: Red Cross: One Foundation Will Continue To Operate; Wang Rupeng, the general secretary of the Red Cross Society of China, wrote on his blog on Wednesday evening that the "One Foundation established by Jet Li will not be shut down." He then told a reporter from Beijing News that the initial contract signed by the two parties had expired on February 5, but that the cooperation had been automatically extended.; The Beijing News | 2010-09-23

BANKING: Ministry of Finance, Huijin to Purchase 31.8 Billion Yuan of Shares in ICBC Righ...; The Industrial and Commercial Bank of China (ICBC) released an announcement Tuesday stating that its two largest shareholders, the Ministry of Finance and the Central Huijin Investment Ltd. - an investment arm of the nation's sovereign wealth fund - will spend 31.81 billion yuan subscribing to the lender's planned rights issue. The rights issue will be implemented in proportion to their current ho...; The Beijing News | 2010-09-23

FLOOD: Zijin Mining Group Responsible for Flood in Xinyi City?; The Zijin Mining Group may be responsible for the deadly flood that hit Xinyi City in Fujian Province yesterday. Local residents told reporters from the Guangzhou New Express that a dam break at a tin mine owned by the Zijin Mining Group caused the flood. So far, the disaster has claimed 18 lives. 17 people have been injured, and 25 are still missing.; Guangzhou New Express | 2010-09-23

FUEL: NDRC Denies Plans to Reduce Fuel Price Readjustment Period; An anonymous source with the National Development and Reform Commission (NDRC) told a reporter from China Finance Information that the NDRC has no plans to reduce the fuel price readjustment period from 22 days to 10 days. Other media, including the Economic Observer, have reported in recent days that the NDRC will soon announce changes to the refined oil pricing mechanism that seeks to stabilize ...; China Finance Information | 2010-09-23

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Newspaper Shines a Light on Beijing's Black Jails: Southern Metropolis Daily's investigative report into a security company that's locking up petitioners on behalf of local governments; Source:Southern Metropolis Daily

China's Informants Lack Protection: China does not have the man power, financial resources, or system to protect informants or witnesses; Source:Beijing News

ADVERTISING: Interview with Sir Martin Sorrell - Chief Executiv...; The EO sits down with the chief executive of the world's largest advertising group