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

SHARE: Steep Decline in China's B-shares Yesterday Afternoon; After a calm morning of trading, the Shanghai B-share market, a small US-dollar denominated board open to trading by foreigner investors, dropped dramatically yesterday afternoon, at one point the B-share index was down 7.52%, before regaining a little to close down 5.33% on the previous day's close. This is the largest single day drop since Nov 12, 2010. Only 4 of the total 108 B-shares traded on...; 21st Century Business Herald | 2011-04-28

COURT: Qihoo 360 Fined and Told to Apologize in Unfair Competition Case Filed by Tencen...; Qihoo 360 has been fined and forced to apologize by the People's Court of Chaoyang District in Beijing after competitor Tencent brought charges of unfair competition against the software company. The court required Beijing Qihoo, Qi Zhi software and Sanji Wuxian to stop distributing 360 Privacy Protector and to deleting related material from their website. Qihoo 360 has also been ordered to post a...; China Youth Online | 2011-04-27

COURT: Supreme Court Says Consumers Can Sue Monopoly Enterprises; China's Supreme Court recently released an interpretation in relation to "Anti-monoploy Civil Law." The interpretation included details of how consumers would be permitted to sue monopoly enterprises if the actions of monopoly enterprises negatively impacted on them.; The Beijing News | 2011-04-27

BANK: Capital Adequacy Targets of 5 Major Banks to Remain Unchanged at 11.5%; In response to recent media reports suggesting that China's banking regulator had already lifted the capital targets of the nation's five biggest lenders above the official minimum of 11.5 percent ratio, the CBRC announced yesterday that it has no plans to change the current 11.5% target.; Shanghai Securities Journal | 2011-04-27

MARKET: Ministry of Commerce Orders Supermarkets to Buy More Vegetables; Recently, the Ministry of Commerce issued a notice that instructed local commerce bureaux to take measures to help deal with the "diffiuclt to sell" vegetables problem faced by many farmers as an over supply of some vegetables has led to a steep drop in wholesale prices. The local commerce bureaux have been told to organize a drive to push supermarkets to purchase these "difficult to sell" vegetab...; The Beijing News | 2011-04-27

CRIME: Man Who Set Off Home-made Explosive in Dongzhimen Sentenced to 7 years; This morning, 22-year-old Lei Sen was found guilty of setting of a hand-made explosive device out the front of a busy shopping mall in the vicinity of Beijing's Dongzhimen transport hub and sentenced to a prison term of 7 years by a Dongcheng Court, Lei Sen was also deprived of his political rights for 1 year. Lei apologized to his father who had travelled from Guangdong to attend the sentencing. ...; Legal Evening News | 2011-04-26

SYSTEM: China to Establish System to Charge for Disposal of Urban Waste; The State Council published the opinions of 16 central government ministries in relation to the development of a system to handle the huge amount of rubbish that's produced by China's cities. The plan will encourage more recycling, a reduction in excessive packaging and controls on the production of disposable items, it also includes the goal of lifting China's system of waste disposal close to th...; The Beijing News | 2011-04-26

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What Was Behind Steep Fall in China's B-shares?: Rumors questioning the likelihood of a merger of B-shares with either A-shares or a new International Board appear to have led to steep decline in the B-share index; Source:Economic Observer Online

Chief Engineer at MIIT Officially Removed from Position: Following reports that Su Jinsheng (苏金生), the chief engineer at the Ministry of Industry and Information Technology (MIIT), had been taken away for questioning and investigation by unspecified aut...; Source:MIIT

POLICY: China Policy Barometer 2011 (Part II); A look at what the heads of 23 central government departments view as the most important g...