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

INFLATION: State Council Issues 16 Measures to Tackle Inflation; The State Council has released a notice ordering local governments and related ministerial agencies to take 16 measures to stabilize commodity prices. The measures include increasing the supply of agricultural products, reducing the logistics costs of agricultural products, ensuring chemical-fertilizer supply, coordinating the supply of coal, power, oil and natural gas, offering price subsidies to...; Securities Times | 2010-11-22

HOUSING: Housing Prices Expected to Plummet 20% Next Year; Qin Hong, deputy director of the policy research center of the Ministry of Housing and Rural-Urban Development, said in the Annual Meeting of China’s Property Sector in Shenzhen that housing prices have not dropped because of inflation, but prices will stabilize next year when the supply of housing increases. According to a report released by the economic research institute of Renmin University, p...; Securities Daily | 2010-11-22

TECHNOLOGY: Ministry of Industry and Information Technology Criticizes 360 and Tencent; The Ministry of Industry and Information Technology has circulated a notice criticizing Qihoo 360 and Tencent for unfair competition methods and cutting off service to customers. The Ministry also claimed that it will cooperate with related ministerial agencies to conduct an investigation into any illegal acts committed by the two companies.; Beijing News | 2010-11-22

LAW: New Wage Bill Will Force Companies to Publish Employee Salaries; A reporter from Huaxi Metropolis Daily learned from an anonymous source that the basic framework of the wage bill has been drafted and industrial monopolies will be required to publish the salaries of their employees. Industrial monopolies will also be required to report employee salaries to the Ministry of Human Resource and Social Security, Ministry of Finance and the State-owned Assets Supervis...; Huaxi Metropolis Daily | 2010-11-22

BANKING: Central Bank to Raise Reserve Ratio by 50 Basis Points; The People's Bank of China, the country's central bank, posted a notice to its official website at about 6pm this evening announcing that it had decided to increase the reserve ratio of deposit-taking financial institutions by 0.5 percentage points, as of November 29. The bank said the move was being made in order to strengthen liquidity management and to appropriately control credit and loans. Th...; People | 2010-11-19

EARTHQUAKE: Shenzhen Struck by a 2.8-magnitude Earthquake; The China Earthquake Administration has confirmed that today at 14:42 a 2.8 magnitude earthquake struck Shenzhen. Areas surrounding Shenzhen including Guangzhou and Hong Kong also felt the quake. No damage has been reported.; Economic Observer Online | 2010-11-19

CRIME: Former Manager of China National Nuclear Corporation Sentenced to Life in Prison; Kang Rixin, former manager of the China National Nuclear Corporation, was handed a life sentence by Beijing's No. 1 Intermediate People's Court, on charges of accepting around 6.6 million yuan worth of bribes.; Xinhua News | 2010-11-19

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China Eastern Airlines to Cut Staff: In light of their merger with Shanghai Airlines, China Eastern Airlines will soon announce wide-scale personnel changes...; Source:Economic Observer Online

NDRC to Conduct Nationwide Price Inspections: The NDRC plans to conduct nationwide inspections into the pricing of daily necessities; Source:Economic Observer Online

FIVE-YEAR PLAN: The 11th Five-year Plan - A Report Card; What stopped several central government departments from achieving their targets?