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

GDP: Chongqing Raises GDP Target Growth Rate to Highest in the Country; Chongqing has raised its target GDP growth rate to 13.5%, making it the highest target rate released so far. More than 20 development plans have been released. GDP growth targets of central and western provinces are higher than the target rates of the eastern provinces.; People’s Daily Online | 2011-01-25

CRIME: Officials Not on Trial in Taiyuan Forced Expropriation Case; The trail for the forced expropriation case in Taiyuan City involving the death of one resident began today. Two local officials are thought to be responsible for the death, but will not be tried in court. Meng Jianwei, son of the victim, has been microblogging on the progress of this case.; China Business News | 2011-01-25

INVESTMENTS: SAFE Approved 68.36 Billion US Dollars to be Invested Abroad as Part of QDII Pro...; According to a posting to the official website of the State Administration of Foreign Exchange (SAFE), since the establishment of the Qualified Domestic Institutional Investor (QDII) scheme in 2006, which allows certain Chinese financial institutions to invest in offshore markets, as of December 2010, (SAFE) had approved a total of 88 domestic investment institutions. The institutions were given p...; China Securities Journal | 2011-01-25

POLICY: Wenzhou Pilot Policy for Direct Foreign Investment Put on Hold; The State Administration of Foreign Exchange (SAFE) has required its Wenzhou subsidiary to halt its pilot program for direct individual investment in foreign countries. Zhou Xiaoping, director of the foreign economics department of the Wenzhou Foreign Economics and Trade Bureau, has admitted that the pilot policy did not receive central government approval before permitting local citizens to inves...; Lianhe Zaobao | 2011-01-25

LAW: "My Dad is Li Gang" Case to go to Trial on January 26; In October of 2010, Li Qiming ran over and killed a young woman and injured another in a traffic accident that took place on the grounds of Hebei University in Baoding. According to reports, Li Qiming attempted to flee the scene and when stopped by campus security, shouted that his father was Li Gang, the deputy director of the public security bureau of Beishi District of Baoding City in Hebei Pro...; China Youth Online | 2011-01-24

INTELLECTUAL PROPERTY RIGHTS: VeryCD Music and Video Downloading Services Halted; Yesterday morning the Chinese government moved against VeryCD, a popular Chinese file-sharing website which allows users to share and download copyrighted audiovisual material. The site now restricts downloads of music and videos. The State Administration of Radio Film and Television is said to be taking a stronger stance on cracking down on online piracy.; China Business News | 2011-01-24

HUKOU REFORM: Hukou Reform Will Allow Rural Residents to Keep Their Land; In places like Guangdong and Chongqing, governments are moving to promote reform of the household registration system, so that rural residents will no longer be forced to give up their claim to rural land so that they can shift to an urban registration and are provided with a greater level of welfare coverage.; Caixin | 2011-01-24

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100,000 Migrant Workers Ride Motorbikes Home for Spring Festival: 100,000 are choosing to ride motorbikes home rather than fight for tickets on the overcrowded Chinese rail system; Source:Xin Kuai Bao

Reactions to Launch of Property Tax: After winning approval from the State Council, yesterday, the Chongqing and Shanghai governments announced the launch of a property tax to tackle inflating housing prices that takes effect as of today...; Source:Economic Observer Online

EO QUARTERLY: The EO Quarterly - Winter 2010/2011; A selection of predictions for 2011, a survey of CEOs about their expectations for the com...