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

FINANCE: China's External Financial Assets Rose 17% in 2009; The State Administration of Foreign Exchange on May 4th released China's international investment position sheet for 2009, showing China's external financial assets rose 17 percent from a year earlier to 3.46 trillion US dollars while its external financial liabilities went up 12 percent to 1.63 trillion US dollars by the end of 2009.; The Beijing News | 2010-05-05

INTERNATIONAL RELATIONS: Foreign Affairs Ministry Responds to Questions on Kim Jong Il's Visit to China; When questioned on North Korea's leader Kim Jong Il's visit to China, Jiang Yu, a spokesman of the Ministry of Foreign Affairs remained vague on the issue. While answering questions related to North Korea, she said China and North Korea have been maintaining the tradition of high-profile visits.; The Beijing News | 2010-05-05

FINANCE: China to Issue 50-year Treasury Bonds; China's Ministry of Finance plans to issue 50-year treasury bonds in May. This will be the second time that China has issued the 50-year treasury bonds. On November 27 last year, the Ministry of Finance issued 20 billion yuan of 50-year treasury bonds at the annual yield rate of 4.3 percent for the first time.; The Beijing News | 2010-05-04

STOCK MARKET: Mainland Stock Market May Allow Renminbi-denominated Funds from Abroad to Invest; In late April, Fang Xinghai, director of the Shanghai municipal finance service office, revealed that Shanghai was considering introducing a qualified foreign limited partner (QFLP) system that would allow renminbi-denominated overseas funds to invest in the domestic stock markets.; China Securities Journal | 2010-05-04

INTERNET: Official Confirms Plans to Promote Online Real-Name Registration System; In a lecture to the standing committee of National People's Congress, Wang Chen, head of the State Council Information Office, admitted for the first time that China is actively considering adopting a real-name registration system for Internet users. Wang said the recent roll-out of a policy that forbade anonymous comments on important news and commercial websites had achieved tangible results.; Southern Metropolis Daily | 2010-05-04

FINANCE: 21.5 Billion Yuan of Loans Issued by Agricultural Bank of China Found Violating ...; The Agricultural Bank of China (ABC) has issued loans worth 4.797 billion yuan to enterprises that do not conform to China's industrial policies and some of the credit it has given has even flowed into the stock market, the National Audit Office states on its official website. It also states, 21.5 billion of the loans issued by the ABC in 2008 were not used to promote the development of the agricu...; The Beijing News | 2010-04-30

LAW: New State Secrets Law Defines Three Types of Secrets; A New State Secrets Law has been drafted in China which divides national secrets into absolute secrets which can remain secret up to 30 years, confidential secrets with a 20 year term and common secrets with a term of 10 years. According to the new law, only ministerial or provincial agencies are allowed to define an "absolute secret". Although this new law ends China's previous ability to arbitra...; China News | 2010-04-30

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China's CPI Up 2.8% in April: China's CPI rose 2.8 percent in April from a year earlier according to the National Bureau of Statistics; Source:National Bureau of Statistics

China's Looming Inflation: With increased costs for labor, industrial materials and agricultural products, inflation is becoming increasingly apparent in China.; Source:Shenzhen News

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...