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

STOCK MARKET: China Considers Accounting Standards for New International Board; Sun Shuming, director of the accounting department at China Securities Regulatory Commission, revealed that regulators were currently debating which accounting standards should be adopted by the future International Board. She went on to say that since Chinese accounting standards are becoming increasingly similar to those used internationaly, the debate won't impede progess in the establishing of...; China Securities Journal | 2009-11-25

DEATH: Famous Chinese Translator Passes Away; Yang Xianyi, one of China's most well-known translators, known for working with his British wife, Gladys Taylor to render numerous ancient Chinese classics into English, including "A Dream of the Red Mansions," died in Beijing yesterday. Yang was 94 years old.; The Beijing News | 2009-11-24

GDP: China's Annual GDP Growth Could Reach 8.5%; Yu Bin, director of Macroeconomic Research Department at Development Research Center of the State Council recently projected that China's economic growth in the fourth quarter was expected to exceed 10%, and that full-year GDP growth rate would reach 8.5%.; China News Service | 2009-11-24

ECONOMY: Head of National Bureau of Statistics Refutes "Advance of the State"; Ma Jiantang, director of China's National Bureau of Statistics, yesterday refuted the existence of the phenomena that has come to be known as the "advance of the state and retreat of private economy" in China's economy. He said that statistics data didn't support such arguments.; China National Radio | 2009-11-24

PEOPLE: Former Finance Minister Leaves State Council's Development Research Center; China's State Council announced the end of Jin Renqing's term as deputy director of the State Council's Development Research Center on Monday. Jin served as the country's minister of finance from 2003 and 2007 resigning to due to unknown "personal reasons," though there were rumors that he had become embroiled in a sex scandal.; China News Service | 2009-11-24

CHINEXT: Irrational Exuberance: Average P/E Ratio on China's New Board Over 110; The current average P/E ratio on Shenzhen's ChiNext board has reached 110.81. This means that the listed companies will need to maintain an average yearly growth rate of around 40% to 50% over many years in order for the investment to be recouped.; China Finance Information | 2009-11-20

RESOURCES: Price of Electricity for Non-residential Use Up 2.8 Fen; The price of electricity for non-residential use was raised by an average 2.8 fen per kilowatt-hour across the country today. This is the first time that China has raised power prices more than once in a single year. The National Development and Reform Commission also revealed plans to increase the price of electricity for residential use if consumers exceed a certain quota.; China Securities | 2009-11-20

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China to Allow Foreign Companies and Individuals to Set Up Partnership...: China has announced a new regulation that will allow foreigners to establish limited partnership enterprises.; Source:State Council

Wen to Take Chinese Carbon Emission Targets to Copenhagen: China has announced that Wen Jiabao will take carbon reduction targets to the the Copenhagen climate change conference.; Source:State Council

NATIONALISATION: Advance of the State; A look at the recent growth in the role of government and state-owned enterprises in a ran...