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

BANKING: New Lending in November Up on October; A source from a commercial bank HAS revealed that new loans issued by China's four large state-owned banks: Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and Construction Bank of China had already exceeded 100 billion yuan. In view of a possible lending surge at the end of the month, and a surge in home-mortgage loans, the amount of new lending in November is p...; Shanghai Securities News | 2009-12-01

INTERNET: China to Rid Mobile Phone Web Pages of Porn; China's Ministry of Industry and Information Technology yesterday ordered the country's three telecom carriers - China Mobile, China Unicom and China Telecom to rectify their individual mobile webpages, which were found to have been used to spread pornography.; China Central Television | 2009-11-26

TAX: Chinese Employees' Income Subsidies to be Taxed; China Ministry of Finance recently issued a document, that defined additional bonuses like transportation payments, communication subsidies and other benefits as part of an employee's monthyl salary. In the future these extra payments, a kind of gray income that was classed as "welfare" anf therefore not subject to tax, will be taken iinto account when determining an individuals taxable income.; Xinhua News Agency | 2009-11-26

SPORT: Chinese Football League Embroiled in Match Fixing Scandal; China's Ministry of Public Security yesterday disclosed details of its investigation into domestic football gambling and match fixing. Wang Xin, former vice president of a Shanxi football club has been detained on suspicion of attempting to fix domestic football matches in order to profit from gambling.; The Beijing News | 2009-11-26

STOCK MARKET: Shanghai Composite Index Down 3.45%; The Shanghai Composite Index fell by 3.45% yesterday, the biggest daily fall since September. However, the value of shares traded reached a record 476.5 billion yuan.; Securities Times | 2009-11-25

REAL ESTATE: Ministry Refutes Reports of Greater Commerical Use of Rural Land; The Ministry of Land and Resources yesterday refuted recent reports that suggested the ministry was planning to loosen regulations that control the commercial leasing and sale of rural land. The ministry clarified that collectively-owned rural land that had been approved for construction, can still not be used for the construction of commercial housing developments. The reports said that the centr...; People's Daily | 2009-11-25

STOCK MARKET: China Considers Accounting Standards for New International Board; Sun Shuming, director of the accounting department at China Securities Regulatory Commission, revealed that regulators were currently debating which accounting standards should be adopted by the future International Board. She went on to say that since Chinese accounting standards are becoming increasingly similar to those used internationaly, the debate won't impede progess in the establishing of...; China Securities Journal | 2009-11-25

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Central Economic Work Conference: China to Stick With Current Fiscal a...: Participants in this year's Central Economic Work Conference decreed that they would continue to maintain the current "proactive fiscal policy and moderately loose monetary policy" into next year.; Source:Gov.cn

China to Allow Foreign Companies and Individuals to Set Up Partnership...: China has announced a new regulation that will allow foreigners to establish limited partnership enterprises.; Source:State Council

NATIONALISATION: Advance of the State; A look at the recent growth in the role of government and state-owned enterprises in a ran...