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

PROPERTY TAX: Shanghai May Impose Tax on New Homes over 200 Square Meters; At a seminar on property tax held by Fudan University, an anonymous expert said that the Shanghai government may tax newly-purchased houses with an area over 200 square meters. Only the area exceeding the 200 square meter limit will be taxed.; China Securities Journal | 2010-12-17

STATISTICS: Life Satisfaction Index Drops; The life satisfaction index for both urban and rural residents, especially people living in provincial areas, experienced a drop in 2010, according to the blue paper on social affairs released yesterday by the Chinese Academy of Social Sciences. The paper also indicates that with the value of land on the rise, farmers born in the 1980s are reluctant to register for a hukou in urban areas.; The Beijing News | 2010-12-16

EXPROPRIATION: Local Governments Barred from Forced Expropriations; A year after soliciting public opinions on the revised Expropriation and Compensation Rules on Houses on State-Owned Land, the law office under the State Council is once again seeking public opinion on new legislation. The new legislation will prevent local governments from expropriating residential housing by force, without the owner’s consent. The law also states that government will provide com...; The Beijing News | 2010-12-16

INVESTMENT: Urban Residents Willing to Invest, Property Still the Primary Target for Investm...; According to a survey conducted by the central bank, 45.2% of urban residents are willing to invest. For the first time, willingness to invest exceeded willingness to deposit, with property still the primary target for investment. The central bank first indicated that property was the primary target of investment for urban residents in the fourth quarter of 2009.; The Beijing News | 2010-12-16

COMPANIES: Price War Between Jingdong and Dangdang Ends; After initiating a heated price war with competitor Dangdang Net on December 14, Liu Qiangdong, CEO of Jingdong Online Shopping, complained on his microblog that Dangdang Net had barred publishers from selling books to Jingdong. Publishers dismissed the complaint by saying that they had been unhappy with Jingdong’s price cuts, forcing the online retailer to restore the original prices of its produ...; National Business Daily | 2010-12-16

EXPLOSION: At Least 30 Injured in Explosion in Yangzhou City, Jiangsu; According to CCTV, an explosion occured in the Jiangdu Development Zone in Jiangsu Province's Yangzhou City this afternoon, wounding at least 30 people. The source of the explosion has not been reported. The injured have been sent to Jiangdu People's Hospital.; China News Service | 2010-12-15

TAX: Over Half of Public Suggests Reducing Vehicle and Vessel Usage Tax; The Legislative Affairs Commission under the Standing Committee of the National People's Congress released the opinions collected on the draft of the Law of Vehicle and Vessel Usage Tax yesterday. Among the nearly 100,000 public opinions collected, 54.6 percent suggest revising the draft law and lowering the tax.; The Beijing News | 2010-12-15

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EO Exclusive: Beijing May Limit New License Plates to 150,000 Per Year: Beijing plans to limit the amount of new license plates handed out to 150 thousand every year through a lottery system...; Source:Economic Observer Online

Blue Book shows Depreciation in Value of Top Tier University Diploma: Although the pay of the vast majority of employees in China has increased, salaries for the first jobs of graduates from top...; Source:Chongqing Evening News

HUKOU: Living under the Hukou System; Earlier this year the EO gathered stories from Chinese citizens about their personal strug...