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

INFLATION: State Council Considers Measures Aimed at Stabilising Consumer Prices; Premier Wen Jiabao chaired an executive meeting of the State Council on November 17 which discussed various measures which could be adopted in order to stabilise consumer prices. The meeting adopted measures that require urban and rural governments to ensure that low income residents receive additional subsidies and also urged them to increase the subsidies supplied to the families of students att...; Central Government Website | 2010-11-17

INFLATION: McDonald's China to Increase Prices; The vice-president of McDonald’s China, Luan Jianghong, has stated that McDonald's food and beverages prices will rise by 0.5 to 1 yuan per item due to rising material costs.; NetEase | 2010-11-17

SOCIETY: Official Speaks Out on China's Gender Imbalance; "The sex ratio in in China is now around 120, the highest in the world," according to Shi Jingchun, deputy director of the publication department of the National Population and Family Planning Commission. She said that China needs to crack down on illegal abortions and unlawful attempts to determine the sex of the baby.; The Beijing News | 2010-11-17

LAW: Professor Expresses "Disappointment" at Lack of Progress in Revising Forced Evic...; A year has passed since five professors from Peking University submitted a long letter urging revision of the "Expropriation and Management Regulations for Urban Housing" to the National People's Congress. Though the professors have since met with various government departments they are yet to receive an official response from the central government. Jiang Ming'an, a law professor at Peking Univer...; China Youth Online | 2010-11-17

LOANS: New Lending Target for 2011 Reported to be between 6 and 7 Trillion Yuan; An anonymous source revealed that the official new RMB-denominated lending target for Chinese financial institutions in 2011 is likely to be in the range of 6 to 7 trillion yuan, down from this year's official target of 7.5 trillion yuan. However, the report also noted, that based on past experience, new bank lending often exceeds official targets and the amount of new loans issued in 2010 is...; Century Weekly | 2010-11-17

GDP: China to Take Part in World Bank's International Comparison Project for First T...; China will take part in the World Bank's International Comparison Project (ICP) for the first time, according to anonymous source from the National Bureau of Statistics. This is the first time that China has joined the project, which according to the World Bank's website, "is a global statistical initiative that supports inter-country comparisons of Gross Domestic Product and its components u...; People’s Daily Online | 2010-11-17

MINE SAFETY: Head of Henan Coal Mine Sentenced to Death for Role in Deadly Explosion; Li Xinjun, the former manager of the Xinhuasi Coal Mine located in Henan's Pingdingshan, along with Han Erjun, the former deputy technical manager of the mine, were both sentenced to death earlier today for their role in an explosion that took place at the coal mine on September 8 last year, resulting in 76 deaths and injuring 15 others. Two other deputy managers were also handed life sentences by...; China News Service | 2010-11-16

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Shanghai Fire Leaves Behind Trail of Unanswered Questions: Many questions remain, and considering the scale of the tragedy, the conviction of eight temporary-contract construction workers is unlikely to pacify public outrage; Source:The Economic Observer

Radiation Leak Reported at Guangdong Nuclear Power Plant: Another small leak was discovered during a routine inspection of the No. 1 reactor at Daya Bay Nuclear Power Plant last month.; Source:The Economic Observer