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

MARKETS: ChiNext Index to BE Unveiled Before July; Chen Dongzheng, chairman of the Shenzhen Stock Exchange and a member of the CPPCC, announced on March 3rd, that if everything goes according to plan, an index for the Shenzhen markets growth enterprise board - ChiNext - will be launched in the first half of this year.SourceChina Securities JournalGoogle Translation; China Securities Journal | 2010-03-04

AGRICULTURE: Ministry of Agriculture: China Has Never Imported GM Seeds; The Ministry of Agriculture has never allowed any genetically modified seeds to be imported nor planted in China, an official with the Ministry of Agriculture announced recently. He went on to explain that all the genetically modified cotton, beans,corn and rapeseed that has ever been imported in to China, was only processed and not cultivated.; The Beijing News | 2010-03-03

HOUSING: Public Housing Fund Requires Second-property Buyers to Pay 40% Down Payment; Individuals who use the public housing fund to buy a second apartment will be required to pay a down-payment of at least 40 percvent of the total price of the property, and people who have already applied for commercial housing loans, no matter if they have paid them off or not, will be viewed as second-property buyers, the Beijing Public Housing Fund Management Center revealed on its website yest...; The Beijing News | 2010-03-03

RESOURCES: Rising Iron Ore Prices Might Lead to Losses for Chinese Steel Companies; The freight price of India fine ore has remained between 140 and 142 US dollars per ton since last Friday, the highest price in 18 months, statistics reveal. Analysts said if this trend continues, Chinese steel companies might once again suffer losses this year.; Southern Daily | 2010-03-03

POLICY: No.1 Proposal for Top Political Consultative Conference to Focus on Low-carbon E...; An authoritative source revealed to the Securities Daily that a proposal to promote the development of China's low-carbon economy put forward by the Jiu San Society, one of China's eight official non-communist political parties, would be the first proposal to be reviewed at the upcoming full session of China's People Political Consultative Conference (CPPCC), which begins on Wednesday in Beijing.; Securities Daily | 2010-03-02

AUTOMOBILES: Toyota President Apologize to Chinese Consumers for Car Recalls; Toyota Motor Corp. President Akio Toyoda held a press conference in Beijing late yesterday to explain the company's recent product recalls. In the one-hour presentation, he apologized four times to Chinese consumers for the incident. The company recalled a total of 75,552 RAV4 sport-utility vehicles in China in late January due to problems with the vehicle's accelerator pedal.; The Beijing News | 2010-03-02

LAW: Detention Center Death Attributed to "Drinking Hot Water"; A man named Wang Yahui was detained by local police in Henan's Lushan county on suspicion of burglary on February 18 this year. However, three days after he was taken away by the police, Wang died in a local detention center. Local police explained that his death had been caused by drinking hot water. At present, the local procuratorate has intervened in the investigation into the case.; The Beijing News | 2010-03-02

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China's CPI Up 2.7% in February: China's CPI rose 2.7 percent in February from a year earlier.; Source:National Bureau of Statistics

NPC: Highlights of Government Work Report: The annual full session of China's National People's Congress (NPC), the country's top legislature, got under way in Beijing on Friday morning.; Source:NPC

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...