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

SECURITY: Somali Pirates Release Hijacked Chinese Bulk Carrier; A hijacked Chinese bulk carrier, along with the 25 Chinese crew members aboard, was successfully rescued at 3 a.m. on Dec. 28, according to Chinese Marine Search and Rescue Center, in an announcement by Jiang Yu, spokesman of Ministry of Foreign Affairs.; China News Service | 2009-12-29

Ads: Media to be Held Responsible for Bogus Ads; Media organizations and their management executives will be held responsible for broadcasting or printing deceiving, misleading, and improper advertisement contents, according to Zhou Bohua, Minister of State Administration for Industry and Commerce.; China Security Journal | 2009-12-25

Growth Enterprises: 8 More Growth Enterprises Listed Today; Eight more companies are listed on China's growth enterprise board today, bringing the total listed companies on the Nasdaq-like board launched in October to 36. Market analysts projected stock prices of the eight new IPOs to jump over 50% on the first day of listing.; The Beijing News | 2009-12-25

CRIME: Huang Guangyu Faces Additional Crime Probe; Huang Guangyu, founder of Gome, may face more charges of "economic crimes", accoring to a notice posted on the Beijing People's Procuratorate website. Huang had been under probe of bribery and insider-trading since last year. The latest notice said new evidences had emerged, suggesting Huang might be involved in another crime, but no futher details were revealed.; China News Service | 2009-12-24

HOUSE: China Cracks Down On Land Hoarding by Developers; China's Ministry of Land and Resources has launched a crack-down on land hoarding by real estate developers. The Ministry said it would revoke the land use right of developers who kept their land idle for more than two years. According to a recent survey by the Ministry, some 100-million square meters of lands earmarked for real estate contruction were left idle.; The Beijing News | 2009-12-24

Foreign Trade: China's Import-Export Value Grows 9.8% in November; The total value of China's import and export in November grows by 9.8% year-on-year, with the import value up 26.7% and the export value down by 1.2%, statistics from the Central Administration of Customs revealed.; Southern Daily | 2009-12-23

Social Security: Cross-Province Social Security for Migrant Workers; China is set to introduce cross-province social security system from next year. The long-awaited system will allow social security account holders to transfer their contributions from one province to another when they move bases. The new move will benefit migrant workers, granting them higher mobility in job hunting across the country while being covered by one single social security fund.; The Beijing News | 2009-12-23

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Two Shanghai Officials Under Probe for Bribery: Two shanghai officials are the latest of a series of Chinese officials being deposed this year.; Source:Xinhua News Agency

Senior Tibetan Legislator Ngapoi Died: Ngapoi Ngawang Jigme, a senior Chinese legislator and political advisor, died in Beijing on Wednesday just short of his 100th birthday.; Source:Xinhua News Agency

Year-end Special: Year-end Special: China's Road to Recovery; A digital book tracing the economic developments that have shaped China over the past year...