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

CENTRAL BANK: Central Bank Adds Liquidity in Open Market Operations; The People's Bank of China injected 166 billion yuan into financial markets this week. In its regular open market operations Thursday, the central bank auctioned 10 billion yuan of three-month bills at a yield of 1.5704 percent, up 4.04 basis points from June 3. On Thursday, the central bank also conducted repurchase agreement operations for the first time in almost a month, absorbing 10 billion y...; China Securities Journal | 2010-06-11

TRADE: China's Exports Grow by 48.5% in May; China's exports increased by 48.5 percent in May when compared to the same period last year and were up 10.9 percent month-on-month. The Association of Southeast Asian Nation replaced Japan to become the China's third largest trade partner in May.; China Securities Journal | 2010-06-11

MEDIA: People's Daily Online President Denies Reports of China Mobile Investment; He Jiazheng, president of People's Daily Online, yesterday denied any knowledge of plans by China Mobile to invest in the online news portal. He was quoted as saying "(I) haven't heard this news about China Mobile injecting capital into People's Daily Online." He went on to say that the current major challenge for People's Daily Online was reform of the the company structure and that the time for ...; Oriental Morning Post | 2010-06-10

STOCK MARKET: Agricultural Bank of China's IPO Application Approved; China Securities Regulatory Commission yesterday released a statement, saying it has approved the Agricultural Bank of China's application for an initial public offering.; Xinhua News Agency | 2010-06-10

SECURITIES: Securities Regulator Have Investigated 51 Insider-Trading Cases; A senior official from China Securities Regulatory Commission yesterday said the commission has so far investigated 51 cases involving inside trading this year, but failed to reveal the names of any companied involved.; Shanghai Securities News | 2010-06-10

LABOR: 14 Provinces Have Raised Minimum Wage in 2010; According to the statistics from China Business News, 14 provinces and municipalities have already raised their standard minimum wage so far this year.; China Business News | 2010-06-10

SOCIAL SECURITY: Threshold for Beijing Low Income Payment to be Raised to 430 Yuan; If all goes to plan, Beijing families with an average per capita income of or below approximately 430 yuan per month, will soon be provided with low income payments, according to the Beijing Bureau of Civil Affairs. It is estimated that 230,000 people will be covered by the new minimum living subsidy. The previous threshold for receiving the low income payment was 410 yuan per month. SourceTh...; The Beijing News | 2010-06-09

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China's CPI Up 3.1% in May: China's CPI rose 3.1 percent in May from a year earlier, the NBS announced at a news briefing on Friday morning.; Source:National Bureau of Statistics

Visa Takes On China UnionPay: The conflict between Visa and China UnionPay has come to a head, with Visa announcing it plans to block use of the CUP settlement channels from Aug 1; Source:The Economic Observer

INTERVIEW WITH PASCAL LAMY: Economic Observer Exclusive: Interview with Direct...; We ask Pascal Lamy, the Director-General of the WTO, about the recently-released third Tra...