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

TEMPERATURE: Beijing Temperature Reaches Historical Highs; The temperature of Beijing exceeded 40 degrees centigrade yesterday, making it the hottest day on record for the first ten days of July since 1971. The Beijing Meteorological Observatory has lifted the high temperature warning to level orange; the hot weather will continue today.; The Beijing News | 2010-07-06

REAL ESTATE: Ministry of Land: Housing Prices Will Decline; At the recently concluded conference which was attended by all local land administration leaders, Xu Shaoshi, minister of Land and Resources, said the real estate market will likely face an overall adjustment after one quarter and housing prices will decline.; China Business Journal | 2010-07-05

ECONOMY: How Much Debt Do Local Governments Have?; Shi Hongxiu, a professor in the economic department at the National School of Administration, contributed to the China Economic Times by analyzing the problem of local government debt. In the article, Shi quoted media reports describing the scale of local government debts. One report released by the China Banking Regulatory Commission on May 2009 stated local government debts have reached 7.38 tri...; China Economic Times | 2010-07-05

ECONOMY: Expert: China's GDP Will Rise 10.5% in 2010; At a conference held in Beijing, Pei Changhong, director of the Institute of Finance and Trade Economics at the Chinese Academy of Social Sciences, predicted that China's GDP in the second quarter will grow 10.6 percent and the index for the whole year will reach 10.5 percent.; China News Service | 2010-07-05

STATE-MONOPOLIZED SECTOR: Private Capital Encouraged in the Reorganization of State-monopolized Sectors; China will encourage private capital to take part in the restructuring of sectors monopolized by state-owned enterprises, Premier Wen Jiabao said at the Executive Meeting of the State Council yesterday. He also said the restrictive policies set by local governments to prevent outside enterprises from playing a role in the merger and acquisition of local enterprises will be eliminated; China Securities Journal | 2010-07-02

HIGH-SPEED RAIWAY: High-speed Railway Connecting Shanghai and Nanjing is World’s Fastest; The high-speed railway connecting Shanghai and Nanjing, the capital city of Jiangsu Province, began its service yesterday. With a running speed of 350 kilometers per hour, it has become the fastest railway in the world; the price of its first-class ticket is 233 yuan.; The Beijing News | 2010-07-02

HIGH TEMPERATURE: Southern China to be Hit by High Temperatures; Southern China will be struck with high temperatures while Northern China and the regions near the Huanghe River and the Huaihe River will experience high rainfall, meteorological experts forcasted.; China News Service | 2010-07-02

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Mine Bosses Required to Work with Miners Underground: Leaders of coal mines and non-coal mines will be required to take turns to work with miners underground.; Source:Xinhua News Agency

Brides for Sale: Sex Ratio Imbalance Troubles China: With a severe gender imbalance among young Chinese, China is about to face a lot of problems.; Source:People's Daily

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...