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

LANGUAGE: Chongqing Announces Authorized English Translation of “Hot Phrases”; The Chongqing Foreign Affairs Translation Center has provided the authorized English translation of five of Chongqing’s “hot phrases” in order to reduce misconceptions among foreigners. Because the “hot phrases” have Chinese characteristics, different translations may mislead foreigners.; Chongqing Morning News | 2010-10-27

KOREAN WAR: China Announces Korean War Death Toll; China has announced that the number its officers and soldiers killed in the Korean War is 183,108. Chinese state media say the figure comes from statistics from the museum for commemoration of the War to Resist U.S. Aggression and Aid Korea in Dandong, Liaoning.; Xinhua News Agency | 2010-10-27

TAX: Tax on Imports of Large-Scale Environmental Protection Equipment Adjusted; China has announced an adjustment of the import taxes imposed on equipment related to environmental protection and resource utilization, exempting components of some technical equipment items from paying import taxes according to a notice co-released by the Ministry of Finance, General Administration of Customs, State Administration of Taxation and the Ministry of Industry and Information Technolo...; Xinhua News Agency | 2010-10-27

HOUSING DEMOLITION: Eight Months Later, No further Progress on New Regulations on Forced Demolition; Eight months after opinions were solicited about the New Regulations on Forced Demolition, no further progress has been announced. Meanwhile, twelve cases of forceful expropriation have been reported during the past two months.; The Beijing News | 2010-10-27

FUEL: Airline Fuel Surcharge Hike; As a result of higher fuel prices, Chinese airliners decided to raise their fuel surcharges today. Travelers who fly more than 800 kilometers will see their fuel surcharge raised from 40 yuan to 70 yuan, while those who travel less than 800 kilometers will have to pay 40 yuan instead of the previous 20 yuan surcharge.; Beijing Morning Post | 2010-10-27

CRIME: Hunan Police Denies Intentional Attack on Provincial Office; The Hunan police have stated that the car driver who struck down an armed policeman and damaged three other cars in the compound of the Hunan Provincial CPC committee was not “attacking the government building on purpose”. The police also denied that any hostages had been taken during the incident.; The Beijing News | 2010-10-27

REAL ESTATE: New Mortgage Loans Down 50.7% in the Third Quarter; In the third quarter the amount of new housing mortgages has decreased by 50.7% from the previous quarter to 340 billion yuan, statistics released by the central bank show. New housing mortgages in the second quarter s amounted to 690 billion yuan.; The Beijing News | 2010-10-27