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

RATING: China Rating Company Releases Sovereign Credit Rating Report; On July 11, Dagong Global Credit Rating Company, an independent rating institution, released its credit rating on 50 countries. This is the country's first and also the world's first non-western rating institution to release sovereign credit risk information.; Economic Information Daily | 2010-07-12

FLOOD: Rainstorms Challenge Yangtze River Banks; Constant heavy rain has led to a surge in Yangtze River water levels which is endangering Anhui province. Several embankments in Anhui have been washed away and 4,200 civilians have been evacuated from the flood-stricken areas.; The Beijing News | 2010-07-12

FOOD: Melamine-tainted Milk Powder Reappears in China; Melamine-tainted milk powder was detected in Gansu, Qinghai and Jilin provinces in early July this year; the raw materials for the tainted powder came from Hebei province.; Xinhua News Agency | 2010-07-09

: First Unofficial House Price Index Announced in China; The first unofficial house price index titled "China Private Elite House Price Index" was announced in Beijing yesterday. The index showed that since the announcement of the State Council's policy to curb the surge in housing prices, the average price of over 70 percent of real estate has declined by 9.3 percent. The index will be released regularly every month.; The Beijing Times | 2010-07-09

INCIDENT: 8 Killed in Coal Mine Blast in Henan Province; An explosion at a coal mine in Pingdingshan City Henan province has killed 8 and injured 36 as of midnight on July 9.; The Beijing Times | 2010-07-09

CORRUPTION: Shenzhen Officials Required to Report Annually Family Members Who Go Abroad; The Shenzhen government is requiring local officials at city and district levels to report once a year on whether their spouses and children have gone abroad, according to a regulation released by the local government. Since November 25 last year, Shenzhen has made it clear that officials whose family members are not living in China will be removed from key government positions.; Southern Daily | 2010-07-08

CORRUPTION: Former Assistant to Minister of Public Security Accused of Receiving Bribes Over...; Zheng Shaodong, former assistant of the Minister of Public Security, was on trial in Xian Intermediate People’s Court yesterday. He is accused of having received bribes of over 8.26 million yuan from 2001 to October 2007.; The Beijing News | 2010-07-08

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China's GDP Grows 11.1% in First Half of 2010: China's gross domestic product (GDP) registered a year-on-year increase of 11.1 percent in the first half of 2010.; Source:The National Bureau of Statistics

China's First Privately-owned English Language Television Network BON ...: We are private, we did not take a penny from the government.; Source:Economic Observer

: Interview with Real Instituto Elcano Senior Fellow...; The EO is currently in Europe interviewing government employees, market figures, and local...