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

INVESTMENT: State Council Publishes Draft of New Foreign Investment Guidelines; The legal affairs office of the State Council released a revised draft of the "Guiding Catalogue of Foreign Invested Sectors" yesterday. The draft catalogue is a list of the industrial sectors in which China's central government either encourages, allows, restricts or prohibits foreign investment. The latest draft of the catalogue encourages more foreign investment in emerging strategic industrie...; China Financial News | 2011-04-07

GOVERNMENT: New Standards of Behavior for Party Leaders Will Monitor Business Interests of F...; Journalists have learned from the National Bureau of Corruption Prevention that a plan for the implementation of "standards for the behavior of leading party members" published by the Central Discipline and Inspection Commission of the CPC late last month include rules that prohibit party members and their partners or children from engaging in certain kinds of business. The plan also details how s...; The Beijing News | 2011-04-07

PRICES: Reports: Domestic Fuel Prices to be Raised Tomorrow; According to sources at all three of China's large petroleum companies, the price of domestic refined oil products are set to rise as of tomorrow morning. Although not yet officially announced, media reports say that the wholesale price of regular petrol will go up by 500 yuan per ton (which equates to an extra 0.37 yuan per liter), while diesel prices will be lifted by 400 yuan per ton (or 0.34 y...; China Business News | 2011-04-06

COAL: NDRC Guarantees the Price of Coal; The National Development and Reform Commission (NDRC) has required in the “key contracts” that the price coal remain at last year’s levels. Price hikes are prohibited without exception. Experts have also predicted that China’s CPI will continue rise in March.; China Securities Journal | 2011-04-06

RELOCATION: Shaanxi Province to Relocate 2.8 Million People in Impoverished and Disaster Hit...; The Shaanxi government is planning to relocate 2.79 million people in poor and disaster hit areas over the next decade, in the greatest migration project in China’s history. On July 18th of last year, southern Shaanxi Province suffered severe rainstorms and a landslide that claimed 329 lives. Zhao Yongzheng, the acting governor at the time, decided to relocate locals affected by the disaster.; Lianhe Zaobao | 2011-04-06

MINIMUM WAGE: Beijing Sets Minimum Wage for Employees of Foreign Companies; The Beijing Municipal Federation of Trade Unions has set the minimum wage for workers employed by foreign companies at 1.5 times of the city’s minimum wage. This is the first time Beijing has set a special minimum wage for the employees of foreign enterprises.; Xinhua | 2011-04-06

AIRLINES: Wuhan Stops 70% of Short-haul Flights; Nearly 70% of Wuhan’s short-haul flights, flights within 600 kilometers, have been eliminated after the opening of the Wuhan-Guangzhou high-speed railway, learned a reporter from Beijing News.; The Beijing News | 2011-04-06

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Beijing's Public Servants Told to Exit Social Organizations: Both party and government officials told to relinquish their role in the vast array of business associations, social welfare organizations or charities; Source:The Beijing News

Former Vice Chairman of Ningxia Receives Life Sentence: A Chongqing court found the official guilty of accepting over 7 million yuan in bribes; Source:Xinhua

BOOK REVIEW: March 2011 Issue of EO's Book Review; Highlights from this month's issue of EO's Book Review