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

CORPORATION: Gome's Huang Guangyu and Chen Xiao Settle Dispute; Gome, China's largest electrical products retailer and Shinning Crown, a holding company controlled by the Gome's jailed founder and former CEO Huang Guangyu, announced that they has signed a memorandum of understanding late on Wednesday evening. As part of the agreement, Zou Xiaochun and Huang Yanhong will be added to the company's board, expanding the size of Gome's board to 13. Analysts say tha...; China Business News | 2010-11-11

TECHNOLOGY: Central Government Department to Report on Tencent and Qihoo 360 Dispute to Stat...; Li Yizhong, head of the Ministry of Industry and Information Technology, told journalists on Tuesday that the ministry had been paying close attention to the dispute between Tencent QQ ang Qihoo 360. In an attempt to ensure the interests of internet users, the ministry is conducting an investigation into the actions of both parties and plans to sumbit the result to the State Council over coming da...; China National Radio | 2010-11-11

BANKING: Central Bank Officially Announces Decision to Raise Required Reserve Ratios; The People's Bank of China announced at 6.45pm on Wednesday evening that it had decided to lift the required reserve ratios of Chinese banks by 0.5 percentage points. The reserve rise will come into effect on Nov 16, and follows last month's interest rate rise.; People's Bank of China | 2010-11-10

BANKING: Central Bank to Raise Required Reserve Ratios at Some Chinese Banks by 0.5 Perce...; China's central bank will order some of China's largest state-owned banks to lift their required reserve ratios by 0.5 percentage points, according to a report on the Wall Street Journal's Chinese site on Wednesday which quotes two anonymous industry sources. The report says that the reserve rise will come into effect on Nov 15 and follows last month's interest rate rise.; Wall Street Journal (Chinese) | 2010-11-10

GOVERNANCE: Wang Xiankui Elected Governor of Heilongjiang Province; On November 9, Wang Xiankui was elected governor of Heilongjiang Province. Wang had previously worked for the Gansu and Jiangxi provincial governments; he is also an alternate member of the 17th CPC Central Committee.; Heilongjiang News Online | 2010-11-10

GOVERNANCE: 625 Local Government Representative Offices Eliminated in Beijing; By the end of July, the central government had eliminated 625 Beijing representative offices of local governments, a reporter from the Xinhua News Agency learned from an official from the Government Offices Administration of the State Council. He went on to say that local governments will be punished if they maintain a representative office “in another form."; Xinhua News Agency | 2010-11-10

CPI: China’s CPI May Exceed 3% This Year; Zhang Ping, director of the National Development and Reform Commission (NDRC), said yesterday that China’s CPI may pass 3% this year. This is the first time the NDRC has acknowledged the possibility of a higher CPI. China’s accumulated CPI reached 2.9% between January and September. China’s original intention was to keep the number under 3%.; The Beijing News | 2010-11-10

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Chongqing University Students to Once Again Learn from Workers, Peasan...: Chongqing university students will be "sent down" to the countryside once again under a new initiative announced on Nov 9; Source:Chongqing Evening News:

October's CPI Rises by 4.4%: China's CPI has increased by 4.4 percent in October on the level of the same period last year, creating a growth rate 0.8 percentage points higher than that of September; Source:China Online