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

CRIME: Chongqing Gang Leader Gong Gangmo Sentenced to Life in Prison; Gong Gangmo, one of many gang leaders to go on trial in the southwestern city of Chongqing in recent months, received a mitigated punishment due to his role in testifying against his former defense attorney Li Zhuang. Gong was sentenced to life imprisonment and was fined 50.21 million yuan.; The Beijing News | 2010-02-11

FOOD SAFETY: New Food Safety Commission Established; A new governmental body aimed at safeguarding food safety was founded on Tuesday. The State Council's Food Safety Commission will be headed by vice premier Li Keqiang snd its first task will be to crack down on the remergence of the melamine in milk products scandal.; The Beijing News | 2010-02-11

CORRUPTION: "White House" Party Chief Sentenced to Death; Zhang Zhi'an, former party chief of Yingquan District in the central Anhui city of Fuyang, commonly referred to as the "White House" party chief due to his order to erect an official building that looked like the White House, was sentenced to death, with a two-year reprieve, for taking bribes worth 3.9 million yuan and retaliating against informants.; The Beijing News | 2010-02-09

INTERNET: China Cracks down on Gambling Websites; China's Ministry of Public Security and another seven ministries and commissions have jointly launched a nation-wide crack down on online gambling.; The Beijing News | 2010-02-09

FINANCE: CSRC Clarifies Margin Requirement for Stock-index Futures Investors; China Securities Regulatory Commission yesterday announced that investors who applied to register an account to trade on the proposed stock-index futures market, have to deposit no less than 500,000 yuan in their account.; China Securities Journal | 2010-02-09

SPORT: CCTV Cancels Live Broadcast of China v Japan Football Match; China's Central Television, the country's state-owned broadcaster, cancelled the live broadcast of a February 6 encounter between China's national soccer team and Japan. The decision not to broadcast the match was made at the last minute and no explanation offered. Media reports suggest that recent high-level arrests for match fixing and gambling, may have something to do with the decision not to ...; China News Service | 2010-02-09

ECONOMIC GROWTH: CASS: China's GDP to Grow 11% in Q1; The Center for Forecasting Science under the Chinese Academy of Social Sciences (CASS), a government think-tank, released a report that predicted that, if there were not any serious impacts from external factors, China's gross domestic product (GDP) would grow by 11 percent in the first quarter of 2010. The center also forecast that China would achieve a 10 percent growth in GDP in 2010.; Securities Daily | 2010-02-09

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Did Housing Prices Really Only Rise by 1.5% in 2009?: According to an official communique released by the National Bureau of Statistics (NBS) last week, the price of housing in seventy of China's large- and medium-sized cities increased by an average of ...; Source:National Bureau of Statistics:

China Begins Registration of Stock Index Futures Trading Accounts: The introduction of China's first stock index futures exchange moved a step closer yesterday when Chinese investors began lodging applications to set up trading accounts on the new board.; Source:China Securities Regulatory Commission

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...