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

STATE-OWNED ENTERPRISES: Chinese COE Profits Top 320 Billion Yuan in First Four Months; China's State-owned Assets Supervision and Administration Commission announced on May 19th that centrally-owned enterprises (COE) made profits of 325.9 billion yuan in the first four months of this year, up 81.7% from a year earlier.; The Beijing News | 2010-05-20

TRANSPORT: NDRC to Fix Price of High-speed Rail Tickets; The pricing department of National Development and Reform Commission stated it has been monitoring the price of high-speed railway tickets since early last year and that it plans to draw up a pricing system for high-speed rail tickets in due course.; Xinhua News Agency | 2010-05-20

LAW: China Introduces Strict Measures Against Non-State Worker Corruption; China's top legislative body and its Ministry of Public Security jointly issued a document on May 18 outlining the standards on filing a criminal case for investigation. The standards state that if people who work in non-government organs accept bribes worth 5,000 yuan or above, they should be investigated and prosecuted.; China News Service | 2010-05-19

LAW: Five Defendants in CCTV Fire Case Will Appeal to Higher Court; Five defendants involved in the CCTV headquarters fire case will appeal to a higher court against their sentence announced on May 10. Xu Wei, former director of the office in charge of construction of the new CCTV headquarters, and who was sentenced to a seven-year prison term for "causing an accident with dangerous articles" stated he would not join the appeal.; The Beijing News | 2010-05-19

CULTURE: Preparation for Cultural Investment Fund Begins; To develop the cultural industry in China, an investment fund is being prepared; the fund aims to raise 6 billion yuan in its first phase. It will serve to implement the recent policy titled, "Cultural Industry Promotion Plan" by the State Council.; Securities Daily | 2010-05-19

FINANCE: ICBC's Convertible Bond Plan Approved; The shareholders of the Industrial and Commercial Bank of China (ICBC) have approved the firm's plan to raise up to 25 billion yuan by issuing A-share convertible bonds; the plan will be carried out once the market improves.; China Securities | 2010-05-19

CORRUPTION: Police Chief Fired for Using Mentally Disabled Person as Scapegoat; On May 17 the Henan Provincial Public Security Department announced that Zheng Wei, head of Weishi County Public Security Bureau was removed from his position for deliberately arresting a mentally disabled person and using him as a scapegoat for a murder case.; The Beijing News | 2010-05-18

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A Glimpse of Failing Health Care Reform: Recent events in Hunan province have exposed just how hard it will be for the government to achieve affordable healthcare for all.; Source:Legal Daily

China Issues New Guidelines to Develop Private Economy: A new document is introduced to encourage and guiding China's private investment.; Source:Economic Observer

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...