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

HOUSING VACANCY: NBS: Impossible to Calculate Housing Vacancy; The National Bureau of Statistics has stated that it is impossible to calculate the housing vacancy rate based on the current data-gathering method. Yang Xhongguang, a researcher with the Chinese Academy of Social Sciences, told a National Business News reporter that the lack of accurate housing data may have a negative influence on government housing policies.; National Business News | 2010-08-12

FISCAL REVENUE: China Gains 5.11 Trillion Yuan of Fiscal Revenue in Seven Months; China has gained 5.11 trillion Yuan worth of fiscal revenue in the first seven months of this year, up 25.7% on the level of the same period last year and equal to China’s total fiscal revenue in 2007 of 5.1 trillion Yuan. Though the Ministry of Finance has stated China’s growth rate will gradually decline in the next five months, its current rate of growth exceeds the growth rate target set earli...; China Business News | 2010-08-12

STOCK MARKET: Shanghai Index Falls Below 2,600; The Shanghai Composite Index fell by 2.86% to 2,595.27 points yesterday, the largest daily fall size since July. Likewise, the Shenzhen Component Index also fell by 2.74% to 10,715.4 points. The price of 121 stocks on China's A-share market dropped yesterday.; The Beijing News | 2010-08-11

XIN JIANG: Investors Eye Xinjiang Stocks After Recent Policy Announcements; After a central work conference laid down strategic plans for the development of the Xinjiang Autonomous Region's economy in May (the centerpiece of which was a shake up of resource tax collection), investors in China's domestic stock markets have begun to pay more attention to listed companies doing business in the region. A huge influx of capital, sourced from both the increase in resource tax r...; China Securities Journal | 2010-08-11

MILK POWDER: Ministry of Health Responds to Milk Powder Safety Concerns; The Ministry of Health has ordered Hubei’s leading office of food safety supervision to investigate incidents of the early onset of sexual maturity among female infants after drinking certain brands of milk powder. The supervisory body have been urged to publish the results of their investigation as soon as possible.; China Business News | 2010-08-11

LOW-CARBON CITY: Five Provinces and Eight Cities Chosen to Pilot Low-carbon Economic Reforms; The National Development and Reform Commission has announced plans to pilot "low-carbon" economic reforms across five provinces (Guangdong, Liaoning, Hubei, Shaanxi and Yunnan) along with eight cities (Tianjin, Chongqing, Shenzhen, Xiamen, Hangzhou, Nanchang, Guiyang and Baoding). The cities will be encouraged to develop low-carbon production facilities and to pilot various other "green lifestyle"...; China Business News | 2010-08-11

DAIRY: Stocks of Nasdaq Listed Parent of Chinese Milk Powder Producer Falls 26.94%; The stock price of Synutra International fell by 26.94% to 12.72 US Dollars in yesterday’s trading, after news reports claimed that the amount of estrogen in the milk powder produced by Synutra’s China subsidiary exceeded standards and had caused the early onset of sexual maturation among female infants. Synutra China has denied the reports and says it plans to sue the Hong Kong based Phoenix medi...; Sina Finance | 2010-08-10

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Ministry Applies for Policy-Based Housing on Employees’ Behalf: The public is concerned about the high number of public servants applying for policy-based housing.; Source:The Beijing News

China's CPI Up 3.3% in July: China's consumer price index (CPI), a main gauge of inflation, rose 3.3 percent in July from a year earlier.; Source:National Bureau of Statistics

EUROPE: Interview with Portuguese Secretary of State for T...; Find out how Portugal plans to reduce its deficit and pay down debt.