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

BUSINESS: Profits at State-owned Enterprises Up 88.9% in Jan-Feb; According to the Ministry of Finance, the profits of China's state-owned enterprises (SOE) jumped 88.9 percent year-on-year during January and February. The surge in profits has been attributed to the relatively low base figure from last year and also to strengthening signs global economic recovery.; The Beijing News | 2010-03-19

HEALTH: China to Crackdown on Low-grade Cooking Oil and Disposable Chopsticks; China's State Food and Drug Administration (SFDA)issued two emergency notices yesterday stating that it would start cracking down on the use of low-grade cooking oil and also disposable chopsticks. Low-grage cooking oil is often either recycled oil collected from restaurant left overs or cheaply produced animal fat. Any oil or disposable chopsticks that don't meet the required standards will be de...; The Beijing News | 2010-03-19

CORRUPTION: Former Ministry of Commerce Official Pleads Guilty in Huang Guangyu-related Case; Guo Jingyi, a former Ministry of Commerce inspector who has been accused of accepting bribes of 8.44 million yuan over the past five years, pleaded guilty to all the charges and expressed feelings of regret at a trial held at Beijing's No. 2 Intermediate People's Court yesterday. Although no details were revealed during the hearing, media reports have connected the trial to charges that have been ...; The China Internet Information Center | 2010-03-19

INTERNET: Chongqing Government Plans to Introduce Real-Name Registration for QQ and Microb...; The Chongqing government has decided to impose a real-name registration system on QQ and microblogs as part of its plan to tighten supervision of online communication. According to an official with the Chongqing Political and Law Committee, the plan will also involve more stringent regulation of SMS messages sent by mobile phone.; Beijing Youth Daily | 2010-03-19

NATURAL DISASTER: Runway at Kunming International Airport Sinking Due to Drought; The runway at Kunming's Wujiaba International Airport has begun to sink, causing the surface of the airstrip to fracture and peel. Authorities say the runway is sinking due to the falling water table beneath the airport. The falling water table is a consequence of the severe drought affecting much of the province along with much of south west China. According to the Yunnan Bureau of Meteorology, t...; Xinhua News Agency | 2010-03-19

PROPERTY: Central Government Orders Central Enterprises to Exit Real Estate Market; The State-owned Assets Supervision and Administration Commission (SASAC) arranged a news briefing for earlier this afternoon to respond to recent criticisms that cashed-up central-owned enterprises (COE) were driving up the price of land at auctions. SASAC announced at the meeting that aside from the 16 COE whose main business was related to property development, the remaining 78 COE who have inve...; China Securities | 2010-03-18

CORRUPTION: Life Sentence of Former Supreme Court Judge Upheld on Appeal; The High People's Court of Hebei province rejected the appeal of Huang Songyou, former vice president of China's Supreme People's Court, and upheld the original judgement. Huang was sentenced on Jan. 19 to life imprisonment on charges of accepting bribes and embezzlement by an intermediate court in Hebei province. He was convicted of accepting more than 3.9 million yuan (571,000 US dollars) in bri...; The Beijing News | 2010-03-18

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18 Defendants Plead Guilty at CCTV Fire Trial: The trial of 21 people charged in relation to a fire that last year engulfed the CCTV headquarters, began on Tuesday at Beijing's No.2 Intermediate People's Court.; Source:Legal Evening News

Shanxi Immunization Scandal Pits State-owned Media Against Local Gover...: Allegations of children dying or becoming ill due to receiving poor quality vaccines in addition to accusations of corruption outlined in a newspaper report have snowballed to become the latest in a s...; Source:China Economic Times

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...