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

STOCK MARKET: Analysts Say Second Round of Quantitative Easing in U.S. Will Cause Chinese Asse...; Some analysts say that the U.S. Federal Reserve's decision to conduct a second round of "quantitative easing," will put "huge pressure" on emerging economies such as China, with a surge in asset prices likely to occur.; China Securities Journal | 2010-11-04

REAL ESTATE: Second-Home Buyers Relying on Public Housing Fund Required to Pay 50% Down Payme...; Second-home buyers who apply for a mortgage from the public housing fund will be required to make a down payment of at least 50 percent of the market price, according to the Management rules of Public Housing Fund and a notice released by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance, the People's Bank of China and the China Banking Regulatory Commission.; China Securities Journal | 2010-11-04

STATE-OWNED ENTERPRISES: 1,631 State-Owned Enterprises to Increase Payments to Central Government Coffers; The State Council has decided to raise the ratio of profits payable to the central government by 1,631 of the state-owned enterprises directly under the control of various central government ministries, according to the executive meeting of the State Council held yesterday. Officials at the meeting did not state how much the increase would be.; China National Radio | 2010-11-04

FUEL: Chinese Cities Suffering Diesel Shortage; Many Chinese cities are suffering from a shortage of diesel, causing the wholesale price of the oil to far exceed the retail price. Currently, the national average wholesale price of diesel is 7,573 yuan per ton while the highest retail price is 7,480 yuan per ton; the price difference is 93 yuan.; The Beijing Times | 2010-11-04

TRADE: Ministry of Commerce may Reduce Export Quotas for Rare Metals by Yearly Incremen...; The export quota of China's rare metals will be reduced in increments of 2% to 3% annually, an anonymous source from the Ministry of Commerce told a reporter from the China Securities Journal. The export quota of rare earth metals will be reduced at a faster pace than other rare metals.; China Securities Journal | 2010-11-03

MINE SAFETY: Mine Managers Responsible for Ten or More Deaths Will Be Banned from Industry fo...; The State Administration of Coal Mine Safety has released draft mine safety provision stating that managers of mining sites in which one incident results in the loss of ten or more lives, will have their qualifications revoked and be prevented from ever running a coal mine ever again.; The Beijing Times | 2010-11-03

MARKETS: CSRC Aims to Improve Transparency of Capital Markets; Liu Xinhua, vice chairman of the China Securities Regulatory Commission, stated in a speech that China will promote the transparency of the capital market by completing the establishment of a sound and comprehensive system for information disclosure, improving the enforcement of information supervision, tackling information disclosure related crimes, and establishing a long-term mechanism to prote...; Securities Daily | 2010-11-03

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China's October CPI Forecasted to Rise 4%: The EO conducted a survey of professional economists from nine financial institutions; the economists forecast that CPI in October will rise by 4 percent and producer price index (PPI) by 4.9 percent.; Source:Economic Observer Online

Henan Police Reform: 18 Cities to Close Down Public Security Bureaus: According to the Henan Provincial Public Security Bureau, on November 15, 18 cities in Henan will repeal the more than 60-years-old “public security bureau—sub-bureau—local police station” system of o...; Source:The Economic Observer

BOOK REVIEW: November Issue of EO's Book Review; A profile of Han Dong, the life of Laozi and an interview with Bai Yansong