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

TRANSPORT: Statement Claiming China's High-Speed Railway Unsafe Wrong; He Huawu, the chief engineer of China's Ministry of Railways and a scholar from the Chinese Academy of Engineering, have both guaranteed the safety of China's high-speed railway, refuting the statement made by Yoshiyuki Kasai, Chairman of the Central Japan Railway Company.; The Beijing News | 2010-04-14

ENERGY: Significant Increase in the Consumption of Electricity in March; National Energy Bureau (NEB) announced on April 13 that the electricity consumption of March was 343.5 billion kwh, 21.04 percent up in contrast with the consumption level of last March.; China Securities Journal | 2010-04-14

FINANCE: "Super Internet Banking" Will Be Launched in August; The People's Bank of China (PBOC) plans to launch "Super Internet Banking" across banks in August. This plan will facilitate 24 hour instant money transfers as well as account inquiries, and will create new capabilities such as cross-bank withdrawals and third-party payment.; The Beijing News | 2010-04-14

TOURISM: North Korea Open to Chinese Tourists; China National Tourism Administration (CNTA) announced that Chinese citizens will be given permission to travel to North Korea on group tours as of April 12. The tours are likely to be popular with the over 45 age group and according to other reports will cost less than 5,000 yuan for a four or five day tour.; China Daily | 2010-04-13

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

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Centrally-Owned Enterprises Submit Plans to Exit Real Estate Market: All 78 of the COEs tasked with preparing strategic plans outlining how they plan to exit the real estate market have submitted their reports to SASAC.; Source:The Economic Observer

Man Who Killed 8 Primary School Students Sentenced to Death: A former community doctor, was sentenced to death on Thursday for murdering eight students outside their primary school last month.; Source:China News

REAL ESTATE: Liberating the "House Slaves"?; Swelling public resentment against skyrocketing property prices has forced the Chinese gov...