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

TRANSPORT: Beijing's Planned Maglev Train Line Triggers Disputes; In early May, the China Academy of Railway Sciences released a notice, stating Beijing Municipality is planning to build a magnetic levitation train line to connect its outer districts including Haidian, Shijingshan and Mentougou District. The academy has solicited public opinions on this project; some residents who live near the planned railway have begun collecting signatures to appeal against t...; The Beijing Times | 2010-05-24

TAX: China Refutes "Real Estate Tax" Rumors; To clear some wide-spread rumors concerning the real estate industry, the National Development and Reform Commission has claimed that there will not be a "real estate tax" (房产税) within the next three years and has refuted the rumor that the central government is considering imposing stricter policies to curb the speculative property market.; Southern Daily | 2010-05-24

TRANSPARENCY: Beijing's Governmental Agencies to Publicize Budgets; Beijing's Municipal Education Commission, Bureau of Civil Affairs and Industrial and Commercial Bureau, have publicized their budget on their websites, providing the public with access to their revenues and expenditures. All together, 45 Beijing governmental agencies will publicize their budgets at the end of this month, according to the Beijing Municipal Finance Bureau. Some have critized the bud...; The Beijing News | 2010-05-21

ENERGY: Price of Coal Increases for Eight Consecutive Months; The price of coal has been increasing for eight consecutive months. Simultaneously, the amount of coal stored in Qinhuangdao port has been decreasing, creating a fear that China will suffer an electricity shortage this summer. Statistics show that the current price of coal has increased by 30% on the level of the same period of last year.; The Beijing Morning Post | 2010-05-21

ENERGY: Xinjiang to Pilot Resource Tax Reform; China's reform of a tax on resources will begin in the Xinjiang Autonomous Region where fuel and natural gas will be taxed by 5 percent and non-ferrous metals including nickel, aluminium, uranium and copper will also be taxed. An energy expert told a reporter from the National Business Daily that one or two cities in central China might also be selected to pilot the resource tax reform.; National Business Daily | 2010-05-21

STOCK MARKET: Price of Two New Stocks Listed on ChiNext Fall; The prices of Aoke Stocks and Jingsheng Stocks, two of the four companies who began to be listed on ChiNext yesterday, fell by 0.47 percent and 6.78 percent respectively on their first day of trading; they myth that the first day stocks are listed on ChiNext they will not decrease in value has been shattered.; The Beijing News | 2010-05-21

CORRUPTION: Former MOC Official Receives Suspended Death Sentence; Guo Jingyi, a former high-level official in the Treaty and Law Department of China's Ministry of Commerce, was sentenced to death with a two-year reprieve after a Beijing court ruled that he had accepted bribes worth 8.45 million yuan from Gome, China's largest home appliance retailer and another Beijing-based company. The court also ordered the confiscation of all of Guo's property.; Legal Evening News | 2010-05-20

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Who is Being Allocated Policy-based Housing?: Local governments are pushing to construct large-scale, low-priced "policy-based" housing for civil servants; Source:The Beijing Times

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

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...