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

TAX: Over Half of Public Suggests Reducing Vehicle and Vessel Usage Tax; The Legislative Affairs Commission under the Standing Committee of the National People's Congress released the opinions collected on the draft of the Law of Vehicle and Vessel Usage Tax yesterday. Among the nearly 100,000 public opinions collected, 54.6 percent suggest revising the draft law and lowering the tax.; The Beijing News | 2010-12-15

STOCK MARKET: SASAC to Promote 16 COEs to be Listed on the A-share Market, Not 40; Responding to a media report which stated the State-owned Assets Supervision and Administration Commission (SASAC) will list 40 centrally-owned enterprises (COEs) on the A-share market, the SASAC stated that, in fact, it was only promoting 16 COEs to be listed bringing the total number of COEs listed on the market to 40.; National Business Daily | 2010-12-15

TRANSPARENCY: CPC Provincial Committee Secretaries to be Audited; The National Audit Office will pilot a policy to audit CPC provincial committee secretaries (provincial level party chiefs) according to Sun Baohou, cheif auditor with the National Audit Office. Currently, only provincial governors are covered by the policy. As of 2010, 53 provincial governors had been audited.; The Beijing News | 2010-12-15

TAX: Import and Export Tax Ratios of Certain Items to be Changed; As of January 1, the import and export tax ratios of certain items will be adjusted since China's tariff reduction commitments for WTO entry expire in 2010. More than 600 products that are resource-intensive, concerning basic materials and key components and parts will enjoy a relatively low provisional import tax. Tax ratios for most-favored nations will remain unchanged.; China National Radio | 2010-12-15

ACCIDENT: Escalator Accident at Shenzhen Subway Station Injures 23; At approximately 8.50am this morning, up to 23 people were injured when an escalator at the Guomao Station on Line 1 of Shenzhen's subway system malfunctioned, a pregnant woman was among those injured.; Xinhua News Agency | 2010-12-14

TRANSPORT: Telephone Booking of Rail Tickets Available During Peak Spring Festival Travel P...; This year's "Chunyun" or peak passenger travel period, that occurs every year over the Spring Festival holiday when many people working in urban center return to their rural homes for the holiday, will officially begin on January 19, a reporter from the Beijing News has learned from the Ministry of Railways. The Ministry also stated that they will also provide telephone booking services for passen...; The Beijing News | 2010-12-14

CRIME: Factory in Xinjiang Shut Down After Accusations of Abusing Mentally Ill Employee...; A chemical factory located in Toksun, a city about 170km south east of Urumuqi, the capital of the Xinjiang Autonomous Region, has been shut down by police after a media expose revealed that workers had been subjecting 8 mentally ill employees to inhumane treatment for 3 or 4 years. The boss has fled to Chengdu with a dozen of his employees; they are currently being pursued by the Xinjiang police.; The Beijing Times | 2010-12-14

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Blue Book shows Depreciation in Value of Top Tier University Diploma: Although the pay of the vast majority of employees in China has increased, salaries for the first jobs of graduates from top...; Source:Chongqing Evening News

Over 1/3 of Chinese Cities in Danger of Being Surrounded by Garbage: The total area of land covered in garbage in China has reached over 500 million square meters, resulting in an annual loss of about 30 billion yuan.; Source:Science and Technology Daily

INTERVIEW: Interview with Václav Klaus - President of the Cze...; "I do not think there is a problem with our climate"