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

TOURISM: Expert Predicts 120 Million Tourists to Spend 60 Billion Yuan Over Spring Festiv...; Dai Bin, deputy director of the China Tourism Academy (CTA), predicted at a conference earlier this morning, that a record high 120 million tourists would spend 60 billion yuan over the coming Spring Festival holidays.; China News Agency | 2010-01-07

INTERNATIONAL RELATIONS: Japanese PM May Apologise for Massacre During Visit to Nanjing in June; The Japanses Prime Minister Yukio Hatoyama is set to visit Nanjing in June this year, as part of a pair of high-level bilateral visits aimed at improving the relationship between Japan and China. There are unconfirmed reports that the Japanese PM will make some kind of formal apology for war atrocities committed by the Japanese while in Nanjing. Hu Jintao will also visit Japan later in the year.; Economic Observer | 2010-01-07

ENERGY: Electricity Shortages as Cold Snap Hits Central China; As a cold front drives China's snow storms south, many provinces are having to put implace electricity restrictions in order to deal with a shortage of coal-powered electricity production. Demand surged when snow storms hit northern China over the weekend and now Shanghai, Jiangsu, Hunan and Hubei have introduced energy restrictions.; Guangzhou Daily | 2010-01-06

REAL ESTATE: No Property Tax to be Introduced in 2010; China will not begin to impose property tax in 2010, an official with the Ministry of Finance said yesterday, explaining that the Chinese economy was still recovering and that the introduction of such a tax would mean a heavy blow to real estate industry.; National Business Daily | 2010-01-06

REAL ESTATE: Shenzhen to Crack Down on Property Market Speculation; Shenzhen authorities have launched a 3-month crack down on illegal property speculation in the city's real estate sector. The local government will strictly enforce regulations relating to unlawful advance sales, false advertising, hoarding for speculation and other illegal behaviour.SourceChina Business NationalGoogle Translation; China Business National | 2010-01-06

HOUSING: Low-Price Housing to Account For Half of Beijing's Residential Land Development ...; To rein in surging house prices, the Beijing government has decided to set aside half of the land marked for residential this year in order to construct government-subsidized housing, an official with the Beijing Development and Reform Commission said yesterday. The total investment in the city's property market is likely to reach 530 billion yuan this year, up 11% on the 2009 figure.SourceThe Bei...; The Beijing News | 2010-01-05

China Stock Index: Greater China Stock Index to be Launched on Jan 18; The recently signed Securities and Futures Regulatory Cooperation Memorandum of Understanding, a cross-straits agreement on financial matters, comes into effect on January 15. One of the first outcomes of the MOU will be the launch a "CSI Cross-Straits 500 Index" on January 18. The new index, announced by the China Securities Index (CSI), will offer an indicator of the performance of equity market...; Oriental Morning Post | 2010-01-04

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Google to Stop Censoring Search Results in China: Google has announced that they are no longer willing to continue censoring their search results on Google.cn..; Source:Google

China Raises Deposit Reserve Ratio: The People's Bank of China has announced that as of Jan 18, it will raise the deposit reserve ratio for deposit-taking financial institutions by 0.5 of a percentage point.; Source:People

YEAR-END SPECIAL: Year-end Special: China's Road to Recovery; A digital book tracing the economic developments that have shaped China over the past year...