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

AUTO: NDRC: Tax Rebate for Small Cars to End Next Year; The National Development and Reform Commission has announced that a tax incentive introduced to encourage the purchase of small cars will come adjusted at the beginning of next year. The government cut the purchase tax on small vehicles from 10 percent to 5 percent in January 2009. The tax will be raised to 7.5 percent for the coming year.; Phoenix News Online | 2010-12-10

FINANCE: China's Budget Deficit to Continue to Expand; Yesterday, the Deputy Director of the Ministry of Finance's Financial Research Institute Su Ming stated that China will continue to carry out a proactive fiscal policy and that central budget deficits will be further expanded this year. He also said that the fiscal deficit will be kept at 3 percent of GDP.; Securities Times | 2010-12-10

HEALTH: State Council Issues 15 Measures Aimed at Standardizing Medicine Prices; The State Council has issued a notice titled "Suggestions for a Mechanism for the Establishment and Regulation of Medicine Prices." The 15 measures included in the suggestions include standardizing prices and centralizing the acquisition and distribution of medicines.; Xinhua News Agency | 2010-12-10

ECONOMICS: China Economic Work Conference Begins Today; The 2010 China Economic Work Conference began today in Beijing. According to Zhou Tianyang, Deputy Director of the Research Committee at the Central Party School, this year's meeting will focus on increasing domestic demand, curbing inflation and ensuring the livelihood of average citizens. China's Politburo has already announced that China will pursue a proactive fiscal policy and a prudent monet...; China Business News | 2010-12-10

CORRUPTION: Former Chairman of the Guizhou Provincial People's Political Consultative Confer...; Huang Yao, former Chairman of the Guizhou Provincial People's Political Consultative Conference, was sentenced to death, with a two year reprieve, and deprived of political rights for life by Chengdu's Intermediate People's Court earlier this morning. Huang, who was charged with accepting bribes, will also have his personal property confiscated. Huang, who had also served as the Deputy Party Secer...; Xinhua News | 2010-12-09

CENTRAL BANK: Central Bank Stops Issuing Three-Year Bills, Market Expects Further Interest Rat...; The central bank will stop issuing three-year bills tomorrow. The decision has fueled expectations of new interest rate hikes and higher reserve ratio requirements. This is the first time in eight months that the central bank has halted sales on three-year-bills.; China Securities Journal | 2010-12-09

POLITICS: Ministerial, Provincial Officials to be Audited; According to notice released by the offices of the CPC Central Committee and the State Council, ministerial officials and their provincial counterparts will undergo mandatory audits; the results of the audits will play a role in evaluating their political performance.; The Beijing Times | 2010-12-09

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Chinese Banks Approach Lending Limit for 2010: Given the offical lending ceiling of 7.5 trillion yuan for 2010, banks will only issue 80 billion yuan worth of new loans in December; Source:Economic Observer Online

Zhang Weiying Removed as Dean of Guanghua School of Management: Zhang's removal has been attributed to his radical views, which distracted him from the responsibilities of being a dean.; Source:Economic Observer Online

INTERVIEW: Interview with Václav Klaus - President of the Cze...; "I do not think there is a problem with our climate"