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

FINANCE: Central Huijin Refutes Reports Claiming it Plans to Acquire Banks; China's Central Huijin Investment Company refuted recent media reports that claimed the company was planning to acquire a 51 percent stake in some of China's larger banks. The possible targets included the Industrial and Commercial Bank (ICBC), Bank of China and China Construction Bank.; National Business Daily | 2010-02-02

STOCK MARKET: ChiNext Faces First Trading Test; Today, China's growth enterprise board, ChiNext, faces its first major trading test as a total of 122 million shares originally sold when the first batch of 28 companies listed on the market, are finally allowed to be traded.; The Beijing Times | 2010-02-01

FOOD SAFETY: More Melamine in Milk; Four batches of milk are being tested for the presence of the chemical melamine, which is known to cause kidney stones or even death among small children. Melamine-tainted milk caused a huge, nation-wide scandal in 2008 when traces of the chemical were found in major brands of milk. Currently, some Shanghai Panda Dairy products have tested positive to presence of the chemical, other companies are ...; Information Times | 2010-02-01

EARTHQUAKE: Earthquake Rocks Sichuan and Chongqing; The Ministry of Civil Affairs announced that an earthquake registering a magnitude of 5.0 struck on the borders of Sichuan's Suining and Chongqing's Tongnan county at 5:36 am yesterday. The earthquake caused one death and 15 others were injured.; Beijing Youth Daily | 2010-02-01

POLICY: Government to Focus on Spurring Domestic Demand in 2010; The first central government document of 2010, jointly issued by the Central Committee of the Communist Party of China and the State Council, was released yesterday. The short document commits the central government to the basic policies of maintiaing food security through steady supply, improving people's livelihood by raising incomes, promoting co-ordination through reform and strengthening basi...; The Beijing News | 2010-02-01

EMERGENCY: Xinjiang Blizzard Death Toll Rises to 20; The death toll caused by the continuing heavy snow and freezing weather that has hit northwestern China's Xinjiang Uygur Autonomous Region rose to 20, local authorities announced on January 27. Furthermore, over 1.5 million local residents have been affected by the blizzard.; China News Service | 2010-01-28

LAW: Beijing Court Clears Baidu of IPR Infringement; Beijing First Intermediate People's Court has ruled against the International Federation of the Phonographic Industry in their intellectual property rights infringement case against Baidu.; Sina | 2010-01-28

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Reform of Public Hospital System Receives State Council Approval: Long-awaited reforms to China's public hospital system received in-principle approval from the country's State Council on Tuesday.; Source:State Council

Vehicle Emission Tax Considered as Part of New Environmental Tax: The Chinese government is considering imposing a tax on car emissions as part of a proposed environmental tax.; Source:The Beijing News

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...