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

BANKING: New Lending in First Week of the New Year May Have Exceeded 500 Billion Yuan; Industrial players project that new lending in the first week of January is likely to have exceeded 500 billion yuan. During the same period, new loans issued by five large commercial banks including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications exceeded 250 billion yuan. SourceShanghai Securities NewsGoogle T...; Shanghai Securities News | 2010-01-12

LAW: China Concludes Investigation Stage of Rio Tinto Case; The investigation into four employees of Rio Tinto's Shanghai office based on suspicions that they illegally obtained commercial secrets and took bribes has concluded, according to the Shanghai public security bureau. The case has now been transferred to local procuratorial agency for review. During an evaluation period, that could be anywhere up to 45 days in length, they will decide whether the ...; Xinhua News Agency | 2010-01-12

EXPLOSION: Five Missing After Chemical Plant Explosion in NW China; Five people are missing and six injured after a chemical plant explosion in Lanzhou, the capital of China's northwest Gansu province, on the afternoon of January 7, local officials announced at a press conference yesterday. The plant was operated by the Lanzhou Chemical Company which is connected to China National Petroleum Corporation, the country's largest oil company and gas producer.; Xinhua News Agency | 2010-01-08

PUBLIC SAFETY: Three Officials Dismissed for Role in Hebei Gas Leak; Three officials in Wu'an municipality were deposed after being held accountable for a gas leak that killed 21 and injured 9 on January 4. The three officials stripped of their post are, Wu Zhisen, deputy director of Wu'an Administration of Work Safety; Wang Xueshu, governor of Yangyi Town and Li Haisheng, deputy chief of Yangyi Town.; China News Service | 2010-01-08

LAW: Beijing Lawyer Sentenced to Over Two Years For Forging Evidence in Chongqing Maf...; Li Zhuang, attorney for suspected gangleader Gong Gangmo, was sentenced to two years and six months in prison for committing the crime of fabricating evidence and interfering with others' testimony on January 8.; www.cqnews.net | 2010-01-08

CONSUMER FINANCE: Regulatory Approval Awarded to China's First Three Consumer Finance Companies; Three domestic consumer finance companies received approval from the China Banking Regulatory Commission (CBRC) yesterday. The Bank of China, Bank of Beijing and Chengdu Bank became the first three institutions to receive permission to set up pilot consumer finance institutions in Shanghai, Beijing and Chengdu respectively. Consumer finance companies are non-deposit, non-banking institutions that ...; CCTV | 2010-01-07

MONETARY POLICY: Central Bank Affirms Commitment to Current Monetary Policy with Conditions; At the conclusion of the People's Bank of China 2010 work conference yesterday, China's central bank once again reiterated its position on monetary policy in 2010. The central bank said it would continue to implement a moderately loose monetary policy, but with the added provision that it would strictly enforce policies related to controlling loans flowing to the real estate sector. The central ba...; Beijing News | 2010-01-07

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Former General Manager of Moutai Sentenced to Death: Qiao Hong, the former general manager of Kweichow Moutai, was sentenced to death by Guizhou's Zunyi Intermediate People's Court on January 15.; Source:China Court

China Moves to Curb Property Prices: Over the past month, China's central government has made a series of major policy announcements aimed at cooling the country's booming housing market.; Source:General Office of the State Council

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...