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

STOCK MARKET: Hepalink Stocks Achieve Highest Ever Price for IPO in China's A-share Market; Shenzhen Hepalink Pharmaceutical Co., Ltd., announced that shares in the company were to be issued at 148 yuan during the firms initial public offering (IPO). This is the highest issue price in the history of China's A-share market.; Shanghai Securities Journal | 2010-04-26

ENERGY: China's New Energy Commission Meets for First Time; The newly formed 21-member National Energy Commision (NEC), which was officially established by the State Council in January this year, held its first meeting in Beijing on April 22. Chaired by Premier Wen Jiabao, the commission announced its intention to increase reliance on non-fossil fuel energy sources so that they account for 15% of China's total energy consumption by 2020.; National Business Daily | 2010-04-23

TELECOMMUNICATIONS: Over 18 Million Using 3G in China; The number of Chinese users of third generation or 3G mobile phone technology reached 18.08 million as of the end of last month, according to information released by the Ministry of Industry and Information Technology yesterday. According to the data, 4.83 million people opened 3G accounts in the first quarter of the year. The three companies that dominate China's telecommunication field, China Te...; The Beijing News | 2010-04-23

REAL ESTATE: Property Developer Speaks Out Against New Property Market Measures; Outspoken property developer Ren Zhiqiang, who has a reputation for speaking his mind on issues related to home affordability in China, has published a long article on his Sina blog attacking recent policies introduced to curb soaring property prices in some key Chinese cities. Ren, who is president of the state-owned Huayuan Group, argued that the government should rely on market methods to addre...; China Entrepreneur | 2010-04-23

REAL ESTATE: CBRC Clarifies Definition of Second-Home Buyer; Individuals who already own a house, either in their own name of under that of their spouse or children, will be considered second-home buyers no matter if they have applied for a mortgage in the past or not, according to Yang Jiacai, director of the China Banking Regulatory Commission's banking supervision department. In the past, only individuals who applied for a second mortgage were considered...; Beijing Youth Daily | 2010-04-23

FINANCE: China Central Bank to Issue 90 Billion Yuan of Bank Notes; The People's Bank of China, the country's central bank, yesterday announced that it would start to issue 3-year bank notes worth 90 billion yuan from April 22. The announcement followed the issuing of 15 billion yuan worth of 3-year bonds two weeks ago. The PBoC will also issue 3-month bonds worth 23 billion yuan from April 22, following the attempted sale of 75 billion yuan of similar bonds on Ap...; Information Times | 2010-04-22

REAL ESTATE: Trading of New Beijing Properties Dropped 40%; According to statistics from the official Beijing Municipal Management of Real Estate Trading website, 483 newly-completed residential properties were traded on April 15th, this declined to a total of 291 properties on April 20th, a drop of 40 percent over six days. China's State Council announced new measures that would limit availability of credit to certain classes of home buyers on April 17.So...; The Beijing News | 2010-04-22

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Billionaire Gome Founder on Trial: Huang Guangyu, one of China's wealthiest individuals, is standing trial on charges of insider trading, illegal business dealings and bribery.; Source:Economic Observer

Life Sentence for Two Developers Responsible for Shanghai Building Col...: Two property developers responsible for the collapse of a Shanghai apartment building last year, were sentenced to life in prison yesterday.; Source:Xinmin Daily

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...