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

TAX: Oil Giants Paid 210 billion Yuan in Windfall Tax o...; State-owned oil giants Sinopec and PetroChina, have paid up to 210 billion yuan in windfall tax over the past three years, according to Niu Li, an economist at the State Information Center. PetroChina was taxed 160 billion yuan while Sinopec handed over 53 billion yuan.; China Securites Journal | 2009-08-12

ENERGY: China to Issue New Energy Development Plan this Ye...; China will issue a plan aimed at encouraging the development of the new energy sector later this year, according to Sun Qin, the associate bureau chief of the State Energy Administration.; Security Times | 2009-08-12

INTERNATIONAL AID: China's Marshall Plan; Former deputy-director of the State Administration of Taxation and current member of the CPPCC, Xu Shanda attracted attention at a recent forum by calling for a Chinese-style Marshall Plan that would involve China lending 500 billion US dollars to developping countries in Asia, Africa and Latin America so that they could buy Chinese commodities and invest in China.; Shanghai Security Journal | 2009-08-12

MARKET: Foreign Enterprises to List on Shanghai Stock Exch...; Foreign enterprises will be allowed to issue A shares on the Shanghai Stock Exchange next year, according to Tu Guangshao, deputy mayor of Shanghai. This is the first time that any kind of official timetable for the much-discussed plan has been revealed.; The Beijing News | 2009-08-12

GDP: Sum of Provincial GDP Exceeds National GDP by 1.4 ...; The sum of gross domestic product (GDP) for the first half of 2009 of the country's 31 provincial-level governments, was some 1.4 trillion yuan higher than the total national GDP figure for the same period issued by the National Bureau of Statistics.; Beijing Times | 2009-08-04

Industry: Steel Industry Profits in July to Exceed 20 billio...; China steel industry profits are expected to exceed 20 billion yuan in July and if the price of streel remains steady over the coming 6 months, the yearly profits are likely to exceed last years 84.6 billion yuan by more than 100 billion yuan.SourceChina Securities JournalGoogle Translate; China Securities Journal | 2009-08-04

WORK SAFETY: Two Killed in Subway Construction Accident in Xi'a...; Two people were killed when an under-construction subway tunnel collapsed in Xi'an, capital of northwest China's Shaanxi Province, on Sunday.; Oriental Morning Post | 2009-08-04

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6.4-Magnitude Quake Rocks West China: A 6.4-magnitude earthquake struck China's western Qinghai province earlier this morning.; Source:China Earthquake Networks Center

End of an Era: China Wipes Crime of Speculation from the Books: China's top legislature is considerring removing outdated laws relating to the crime of speculation, a throwback to the days of China's planned economy, from the country's law books.; Source:National People

TAX: Taxing Times; China's tax bureau aims to collect an additional 100 billion in tax before the end of the ...