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

HOUSING: Housing Prices Too High for Most Chinese Families; The Chinese Academy of Social Sciences (CASS) has predicted in the recently published "2011 Blue Book of China's Economy" that 85% of Chinese families wishing to purchase a new home cannot afford it. Among a host of other economic data, the report also estimates that the annual growth of property prices may fall from 25% in 2009 to 15% this year.; The Beijing Times | 2010-12-08

SASAC: SASAC to Strengthen Supervision of State-owned Enterprises Overseas M&A Activity; A reporter with the 21st Century Business Herald has learned from Huang Shuhe, deputy director of the State-owned Asset Supervision and Administration Commission (SASAC), that SASAC will issue a new law to strengthen supervision of the overseas assets of central government-controlled state-owned assets. The overseas assets of enterprises under SASAC's supervision reached a combined value of over f...; 21st Century Business Herald | 2010-12-08

PRICE CONTROLS: NDRC: No Immediate Plans for Price Intervention Measures; Zhou Wangjun, deputy director of the National Development and Reform Commission's pricing department, emphasised during a recent interview that the central government's position that "when necessary they would implement short-term price intervention measures" was not the same as saying that they will definitely impose nationwide price controls. He also said that there would be an adequate supply o...; The Beijing Times | 2010-12-08

INDUSTRY: High-speed Railway Sector to be Officially Recognised as a "Strategic Emerging I...; China will give priority to developing high-speed railways and the industry will be considered a "strategic emerging industry", vice premier Zhang Dejiang stated at the opening ceremony of Seventh World High-speed Railway Conference yesterday.; China News Service | 2010-12-08

POPULATION: Beijing Leaders Discuss Controlling Population Growth through Industrial Policy; Members of Beijing's Municipal Communist Party Committee discussed various proposals for Beijing's Twelfth Five-Year Plan at a recent meeting. One of the suggestions that arose during the course of the meeting was the need to focus on controlling the total population of the city and how the city could use industrial policy as a means to control population growth.; China News Service | 2010-12-07

STEEL: Shougang Continues Exit from Capital as Shijingshan Factories Halt Production; Shougang Iron and Steel Group began closing its Beijing plants in the run up to the 2008 Beijing Olympics and moved much of its production to the Hebei coast in order to modernise and help improve Beijing's air quality. According to a company announcement, more than 22,000 employees will be effected by the latest decision to completely stop production at one of Shougang Steel's last remaining fact...; The Beijing News | 2010-12-07

TAX: Sulfur Dioxide and Wastewater to be Targeted by Environmental Tax; A reporter from the Economic Information Daily learned from anonymous source that the Ministry of Finance, State Administration of Taxation and The Ministry of Environmental Protection have approved the environmental tax plan. Sulfur dioxide and wastewater will be the first two items to be taxed.; Economic Information Daily | 2010-12-07

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NBS: Property Prices in 70 Major Cities Up 7.7 Percent: The property sales volume of the first eleven months of 2010 reached 0.83 billion square meters, climbing 9.8 percent since last year, and showing a 0.7 percent increase from the property sales volume...; Source:National Bureau of Statistics

MIIT Minister Removed from Position as Party Secretary: Li Yizhong, the minister of Industry and Information Technology, will still remain in his post despite being removed as party secretary; Source:Economic Observer Online

BOOK REVIEW: December Issue of EO's Book Review; A tour of the best books about the financial crisis that have been translated into Chinese