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

ONLINE: China to Crack Down on Online Public Relations Companies; Starting from mid-April, various central government ministries will work together to conduct a two-month special campaign aimed at cracking down on illegal Internet public relation agents, including post-deleting companies, online voting companies, etc. According to reports from Xinhua, the campaign will be led by the news office of the State Council, the Ministry of Industry and Information Techn...; Lianhe Zaobao | 2011-04-14

RAILWAYS: Ministry of Railways: Slowing Down China's High-speed Rail; The maximum speed of trains operating on China's rapidly expanding high-speed railway network will be limited to below 300 kilometers per hour by the end of this year, a reporter with the Beijing News learned from the Ministry of Railways yesterday. The ministry also said that the drop in maximum speed will also mean that high-speed rail tickets will be cheaper. The announcement follows the dismis...; The Beijing News | 2011-04-14

INDUSTRY: NDRC Suspends Approval of Non-essential Coking Projects; The National Development and Reform Commission (NDRC) released a notice on its website yesterday, stating that, ahead of the release of related guidelines, it will temporarily suspend the approval of coking and calcium carbide projects which are merely focused on expanding capacity. The economic planning body has also prohibited the development of projects that don't meet the entrance standards of...; Caijing Online | 2011-04-13

PURCHASE: Media Alleges that Tang Jun Spent 3,000 Dollars on Doctorate Degree; Yesterday, it was reported that Tang Jun, president of Xinhuadu Group and former president of Microsoft China, paid 3,000 US dollars to purchase a doctorate degree from the Pacific Western University.; The Beijing News | 2011-04-13

FINANCE: Deputy Minister of Finance Says Controlling Inflation is Hard; Li Yong, one of China's deputy ministers of finance, revealed that the central government was having difficulty in controlling the latest bout of inflation in an article he wrote published yesterday. Mr. Li also said that although the rate of inflation is not as high as in previous years, the situation might be even more serious. Li Yong has attributed the finance department's difficulty in keep...; The Beijing News | 2011-04-13

PRICE: NDRC In Talks With Industrial Groups to Ward Off Price Increases; In a bid to limit inflationary pressures, the National Development and Reform Commission (NDRC) has held talks with 17 industrial associations about the need to maintain pricing stability. Products produced by the industries that took part in the talks include soft drinks, milk, sugar and wine. According to a source with a large cooking oil producer, the NDRC has required them not to raise prices ...; Guangzhou Daily | 2011-04-12

PROPERTY: Average Price of New Beijing Residential Property Drops for First Time in 19 Mon...; The average price of a newly constructed Beijing commercial property dropped to 19,679 yuan per square meter in March, according to statistics released by the Beijing Property Trade Management Network. This is the first time that prices for such properties have witnessed a year-on-year fall in 19 months. According to an unnamed official with the Beijing Housing and Development Commission, decrease...; Economic Information | 2011-04-12

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China's GDP Grew 9.7% in the First Quarter - March CPI up 5.4%: Inflation in China jumped to a 32-month high of 5.4% in March, while growth slowed compared to the pace registered in the first quarter of last year.; Source:National Bureau of Statistics

New Social Finance Indicator Released as Part of Quarterly Financial R...: The social finance indicator is an attempt to measure the actual financing capability that exists in the real economy and to provide a better gauge on the amount of liquidity in the financial system.; Source:People's Bank of China

BOOK REVIEW: March 2011 Issue of EO's Book Review; Highlights from this month's issue of EO's Book Review