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

MINE SAFETY: Mine Managers Responsible for Ten or More Deaths Will Be Banned from Industry fo...; The State Administration of Coal Mine Safety has released draft mine safety provision stating that managers of mining sites in which one incident results in the loss of ten or more lives, will have their qualifications revoked and be prevented from ever running a coal mine ever again.; The Beijing Times | 2010-11-03

MARKETS: CSRC Aims to Improve Transparency of Capital Markets; Liu Xinhua, vice chairman of the China Securities Regulatory Commission, stated in a speech that China will promote the transparency of the capital market by completing the establishment of a sound and comprehensive system for information disclosure, improving the enforcement of information supervision, tackling information disclosure related crimes, and establishing a long-term mechanism to prote...; Securities Daily | 2010-11-03

AVIATION: China Air Transport Association Denies Cash Compensation for Delayed Flights; The China Air Transport Association (CATA) has refuted rumors that passengers experiencing flight delays for over four hours will receive cash compensation. The association says it has only been soliciting opinions on new airline regulations but has not yet released any regulations.; Guangzhou Daily | 2010-11-03

PROPERTY: Chinese Property Developers Hoarding 1.2 Billion Square Meters of Land; Data from the National Bureau of Statistics show that Chinese property developers have been hoarding 1.2 billion square meters of land. Developers have purchased 3.3 billion square meters of land in the past ten years and developed only 2.1 billion square meters.; China Youth Online | 2010-11-02

TRANSPORTATION: Airlines to Provide Cash Compensation for Flight Delays; Airline companies with flight delays of four to eight hours will be required to provide a 300 yuan ticket discount, or 200 yuan in cash, as compensation. This is according to the new standard released by the China Air Transport Association.; Wuhan Evening News | 2010-11-02

MONETARY POLICY: China May Switch to “Prudent” Monetary Policy; China Business News has learned from two anonymous sources that the central bank is considering shifting China’s monetary policy from “loose” to “prudent”. If implemented, the change would signal a tighter monetary policy.; China Business News | 2010-11-02

COMMERCE: China’s Rare Earth Export Quota to Remain Unchanged in 2011; In response to pressure from the US, Chen Jian, vice minister of commerce, said China is still debating whether to raise the rare earth issue at the G20 meeting. But he insists China’s export quota of rare earth will not fall in 2011.; China Business News | 2010-11-02

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Power Cuts Trigger Diesel Shortage in Parts of China: A new wave of diesel shortages has swept across the country as industry turns to diesel generators to avoid restrictions; Source:The Economic Observer

Sina to Collaborate with MSN: Sina will officially announce its plan to collaborate with Windows Live Messenger on Thursday; Source:The Economic Observer

BOOK REVIEW: November Issue of EO's Book Review; A profile of Han Dong, the life of Laozi and an interview with Bai Yansong