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

TOURISM: Hainan to Offer Tax Rebates and Visa-Free Entry to International Tourists; Starting next year, Hainan Province will implement a visa-free policy and offer tax rebates to tourists from 26 selected countries, according to Chen Cheng, deputy governor of the province. He did not mention the specific countries that will be covered by the policy. In addition, tax-free shopping centers will also be constructed in Hainan next year.; Caixin Online | 2010-11-29

CENTRAL BANK: Funds Outstanding for Foreign Exchange Reaches 30 Month High; According to statistics from the central bank, China's funds outstanding for foreign exchange surged to 519 billion yuan in October, the highest in 30 months. This also indicates that the volume of hot money in October was 2.4 times that of September.; National Business Daily | 2010-11-29

INFLATION: NDRC: Orders Caution when Lifting Water, Power, Oil and Natural Gas Prices; The National Development and Reform Commission (NDRC) yesterday issued an announcement requiring all levels of governments to be prudent when considering adjustments to the price of water, electricity, oil and natural gas. The NDRC also required pricing departments at all levels of government to take further measures to eliminate the charging of unreasonablly high prices for items that impact on e...; The Beijing News | 2010-11-26

ENERGY: Shanxi Suffers Severe Power Shortages; Every winter, the north-western province of Shanxi is hit by power shortages, but this year the shortages are expected to be especially severe with estimates predicting that around one fourth of the power demands of the province will not be met. Acoording to a source within the Shanxi energy industry, the shortage is caused by both "efforts to meet energy-saving and carbon emission reduction targe...; People's Daily Online | 2010-11-26

HEALTH: Quarantine Service Considers Dumping Compulsory HIV Test for Returning Citizens; The General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) yesterday released a draft notice of "Prevention and Management of AIDS at Border Ports (Revised)" which proposes doing away with the current policy of requiring all Chinese citizens who have been abroad for more than one year to be tested for HIV.; The Beijing News | 2010-11-26

FINANCE: Central Bank Issues Credit Card Debt Warning; Yesterday China's central bank released its third quarter report on China's payments system. The report noted that credit issued on domestic credit cards and the amount of total loans payable on credit cards had both increased dramatically during the third quarter, which has in turn raised the risks of credit-card default.; Shanghai Securities News | 2010-11-26

ENVIRONMENT: Energy-efficiency and Green Industry Development Guidelines Approved by State Co...; "Energy-efficiency and Green Industry Development Guidelines" drafted by the National Development and Reform Commission (NDRC) and the Ministry of Environmental Protection has been approved by the State Council, a reporter with the 21st Century Business Herald learned from an anonymous source. Wu Xiaoqing, vice minister of environmental protection, said that the size of China's green industry sect...; 21st Century Business Herald | 2010-11-26

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NBS Publishes CPI Calculation Process: The National Bureau of Statistics (NBS) published an article on its website Tuesday explaining how CPI is surveyed and produced in China.; Source:The Beijing News

Chongqing Police Arrest Fake Journalists: The group took advantage of local government department's, school's and hospital's fear of having negative news exposed; Source:Economic Observer Online

FIVE-YEAR PLAN: The 11th Five-year Plan - A Report Card; What stopped several central government departments from achieving their targets?