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

LAND RIGHTS: Professors Propose Housing Regulation Revision; Several professors with Peking University have handed in a proposal on revising the Expropriation and Compensation Regulation of Houses on State-owned Land (Second Draft Version) to the legal affairs office of the State Council. One of their suggestions is that, to ensure fairness, governments should make the whole process of housing expropriation, including its legal basis, reasons and compensati...; The Beijing Times | 2010-12-27

INTEREST RATE: Interest Rate of Housing Loans Increased; The Beijing Housing Fund Management Center announced yesterday that the annual interest rate of housing loans of five years and under has been raised from 3.5% to 3.75% and the rate of housing loans above five years has been lifted from 4.05% to 4.3%. This new policy was put into effect yesterday.; The Beijing Times | 2010-12-27

HEALTHCARE: The Price of Essential Drugs Lowered by 30%; During the 18th Conference of the Standing Committee of the 11th NPC this morning, National Development and Reform Committee deputy director Zhu Zhixin claimed that the price of medicines included on the essential drug list launched last August as a part of healthcare reform, had dropped about 30 percent.; Xinhua | 2010-12-24

POVERTY: Poverty Bar Raised, China's Impoverished Population over 100 Million; In the first year of the 12th Five-Year Plan, China will raise its poverty line to a yearly per capita net income of 1500 yuan. There are more than 100 million people in China who fall below that level.; Chongqing Morning Post | 2010-12-24

CRIME: Three suspects Detained in Shanghai High-Rise Fire; Yesterday a spokesman for Shanghai No. 2 People's Procuratorate confirmed that three more suspects have been detained in relation with the November 15 Shanghai high-rise fire which killed 58 people.; Xinhua | 2010-12-24

SOCIAL SECURITY: Monthly Pensions to Increase by 140 Yuan Next Year; Yesterday Premier Wen Jiabao presided over an executive meeting of the State Council which decided to increase the pension for retirees by an average of 140 yuan per month. Additionally, yearly subsidies for college students will increase to 3000 yuan from 2000 yuan beginning next year.; The Beijing News | 2010-12-23

ENVIRONMENT: Dust Pollution in Wuhan Threatens 100,000 Residents; Last night, in the wake of news reports about severe dust pollution in Wuhan, Wuhan officials conducted an inspection of two construction sites and vowed to improve the situation and strengthen punishments for polluters.; Wuhan Evening News | 2010-12-23

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Graduates Finding it Harder to Become Beijing Residents: New population control measures will hit college students, making it harder for them to register in Beijing as local residents.; Source:Economic Observer Online

Trade Figures for November Show Substantial Growth, Record Highs: Exports reached 1.42 trillion US dollars, a year-on-year growth of 36.3 percent, while imports grew 40.3 percent to 1.25 trillion US dollars.; Source:General Administration of Customs

HUKOU: Living under the Hukou System; Earlier this year the EO gathered stories from Chinese citizens about their personal strug...