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

EARTHQUAKE: 8 Chinese Missing After Haiti Quake; According to a statement posted to the Ministry of Public Security's official website, 4 of the 142 Chinese peacekeepers stationed in Haiti (125 peacekeeping troops and 17 police), are missing after a magnitude 7 earthquake hit the small island nation. Another 4 employees of the public security bureau are also missing.; The Beijing News | 2010-01-14

LAW: More Officials Implicated in CCTV Fire; According to the Chaoyang District People's Procuratorate of Beijing, five officials from the Beijing Municipal Commission of Housing and Urban-rural Development and Beijing Bureau of Quality and Technical Supervision are being investigated on suspicion of dereliction of duty in regard to the fire that destroyed the TVCC center, located within the grounds of Beijing's new CCTV complex, early last ...; Beijing Youth Daily | 2010-01-14

BANKING: China Raises Banks' Reserve Requirement Ratio; China's central bank Tuesday announced, as of January 18, it would raise the reserve requirement ratio (RRR), the proportion of funds that financial institutions are required to set aside as reserves, for deposit-taking financial institutions by 0.5 of a percentage point. The move is expected to tie up 296.4 billion yuan worth of funds from the market.; The Beijing News | 2010-01-13

TECHNOLOGY: Baidu Hacked - Losses Could Total 7 Million Yuan; Industry players estimated that Baidu could suffer losses of over 7 million yuan from the attack om its network on Tuesday morning. The website was unable to be accessed via its regular URL for 7 hours.; East Today | 2010-01-13

FINANCE: CFFE Gets Green Light to Pilot Index Futures; China Securities Regulatory Commission approved China Financial Futures Exchange's (CFFE) application to spearhead the country's proposed index futures project. The CFFE, established in September 2006, is the mainland's first exchange specializing in derivatives trading.; China Securities Journal | 2010-01-13

DEFENSE: China Conducts Missile Interception Test; Yesterday China conducted a test of missile interception technology at an unspecified location on the mainland. Official announcements proclaimed that the test achieved the expected objective and emphasised that the test was of a defensive nature only and was not targeted at any particular country.; China National Radio On-line | 2010-01-12

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

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China's CPI Up 1.9% in December: China's CPI rose 1.9% in December, outpacing analysts' forecasts.; Source:National Bureau of Statistics

China Exceeds Growth Target - GDP Up 8.7% in 2009: China's gross domestic product (GDP) grew by 8.7 percent in 2009, surpassing the central government's goal of 8 percent growth for the year.; Source:The State Council Information Office

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...