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

BANKING: New Lending in March Eased to 500 Billion Yuan; New loans issued in March continued to slow as the government took steps to rein in credit amid rising inflation and risks of asset bubbles. China's central bank yesterday released the first quarter's financial data, showing Chinese banks issued 510.7 billion yuan of new loans in March, down from the 700.1 billion yuan in February. That pushes the total new loans issued in the first quarter of 201...; The Beijing News | 2010-04-13

CURRENCY: Hu Jintao: China Won't Appreciate Currency Under External Pressure; While meeting with his US counterpart in Washington on April 12, Chinese President Hu Jintao said China would firmly stick to the path of reforming the mechanism which determines the exchange rate of its currency will be based on its own economic and social development needs. Hu said detailed measures for reform should be considered in the context of the world's economic situation and China's econ...; China News Service | 2010-04-13

RESOURCES: China Prepared to Launch Anti-trust Investigation into Mining Giants After Annou...; The British-Australian miner Rio Tinto announced that it was negotiating with clients to adopt a quarterly pricing regime for iron ore supply last Friday, a move which followed earlier similar announcements from the two other mining giants dominating global iron ore trade, BHP Billiton and Vale. Against this background, a Chinese authority on anti-monopoly law revealed that the related Chinese dep...; Economic Information Daily | 2010-04-13

CENTRAL BANK: Central Bank Begins Issuing Three-Year Bills; The People's Bank of China started issuing three-year central bank bills again yesterday, echoing market expectations and indicating the central bank's intention to manage expected inflation and prevent the economy from over-heating. The complete scale of bill issuance is 15 billion yuan; it has been tentatively determined that the bills will be issued twice a week. This is the first time the Peop...; China Economic Times | 2010-04-09

REAL ESTATE: Housing Prices in Beijing Reach 25,500 Yuan Per Square Meter; The average prices of the apartments exhibited in the Springtime Real Estate Trade Fair held at the International Trade Center yesterday reached 25,500 yuan per square meter, doubling the prices of last year. Sina's property market channel previously predicted that the average housing prices in Beijing would reach 25,000 yuan per square meter in April.; The Beijing News | 2010-04-09

BUSINESS: General Manager of Huijin Removed from Office; Xie Ping, former general manager of the Centrral Huijin Investment Ltd, was removed from office yesterday and his position was given to Peng Chun, former vice president of the Communications Bank of China, a source with the China Investment Corporation (CIC) told an EO reporter. Xie Ping was the first general manager of Huijin and held the position for six years. He still holds his position as vic...; Economic Observer Online | 2010-04-09

CURRENCY: Chinese Currency Hits 10 Month High Against US Dollar; The value of the Chinese Renminbi or Yuan in relation to the US dollar rose to a 10-month high yesterday with RMB 6.8260 buying 1 US dollar.; China Internet Information Center | 2010-04-08

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Strong Earthquake Rocks West China: A 7.1-magnitude earthquake struck Yushu Tibetan autonomous county in China's western Qinghai province at 7.49 this morning; Source:China Earthquake Administration

Boao Forum: Pursuing Green Recovery: This year's Boao Forum for Asia themed, "Green Recovery: Asia's Realistic Choice for Sustainable Growth" came to a close; Source:Boao Forum Official Website

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...