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

TAX: Crack Down on Baijiu Tax Evasion; As the deficit begins to grow, signs that the central government is paying more attention to government revenue are beginning to emerge. Not content with the recent hike in alcohol and cigarette taxes, they're also cracking down on a form of tax evasion that has long existed with in the alcohol industry. The State Taxation Administration has adopted a regulation that will prevent baijiu producers ...; Bandao Dushi Bao | 2009-07-31

TRANSPORT: Beijing-Shanghai High-speed Railway could be the W...; The Beijing-Shanghai high-speed railway link, which will cut the travel time between China's two major urban centers from the current 10 to 4 hours, is likely to be the most profitable railway line in the world, said China's Ministry of Railways. The railway will be completed by 2011 and operational in 2012. 220 billion yuan has been invested in the project.; National Business Daily | 2009-07-31

POLITICS: Controversy Surrounding Book about Chinese Leaders; Shi Dongbing, the author of a non-fiction book - Interviews with Former Chinese High-level Political Leaders, claims to have interviewed three former state chairmans or general secretaries and 15 retired leaders from mainland China when writing his book that was first published in May, 1998. However, the children of all the above-mentioned leaders, recently released statements denying the intervie...; Southern Weekly | 2009-07-31

IPO: Shanghai's Back: Sichuan Expressway IPO Soars; Shares of the Sichuan Expressway Company, a toll road operator in southwest China, and the first firm to list on the Shanghai stock exchange in almost one year, closed at 10.9 yuan, tripling its initial public offering price of 3.6 yuan.; The Beijing News | 2009-07-28

GROWTH ENTERPRISE BOARD: 108 Enterprises Apply to List on New Growth Board; China Securities Regulatory Commission (CSRC) began to accept applications from companies interested in listing on China's new Shenzhen-based Growth Enterprises Board (GEB) on Sunday. A total of 38 stock companies lodged applications to list on the new Nasdaq-style board on behalf of 108 companies.; 21st Century Business Herald | 2009-07-28

LABOR DISPUTE: Steel Group Merger Blocked After Manager Killed; Jilin's provincial government ordered the the private Jianlong Group to retreat from it's planned buy out of the state-owned Tonghua Iron & Steel Group. The call came after angry Tonghua workers killed a manager who had been sent from Jianlong on Sunday.; The Beijing News | 2009-07-28

OIL PRICES: Petrol Prices on Way Down; As the global price of oil had dropped to ＄63.8 per barrel by July 23, it's possible that, in keeping with a new pricing policy that was introduced earlier this year, the price of oil in mainland China will go down at the end of this month.; Economic Reference News | 2009-07-28

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6.4-Magnitude Quake Rocks West China: A 6.4-magnitude earthquake struck China's western Qinghai province earlier this morning.; Source:China Earthquake Networks Center

End of an Era: China Wipes Crime of Speculation from the Books: China's top legislature is considerring removing outdated laws relating to the crime of speculation, a throwback to the days of China's planned economy, from the country's law books.; Source:National People

TAX: Taxing Times; China's tax bureau aims to collect an additional 100 billion in tax before the end of the ...