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

COMPANIES: Dangdang Reports Profits of 30 Million Yuan in 2010; Dangdang Net, China’s leading online shopping platform, has reported net profits of 30.8 million yuan last year, up 82% from the previous year, according to its annual report released on Wednesday. The report states that the online retail giant spent 21.20 million yuan on promotion in the last quarter of 2010, up 89% from 2009, because of the price war with competitor 360buy.; The Beijing News | 2011-03-11

LAW: Procurator-General Considers Decriminalizing “Antirevolutionary” Activity; Cao Jianming, member of NPC and Procurator-General of the People’s Supreme Procuratorate, recently proposed the decriminalization of “antirevolutionary” activity. He said the law is inconsistent with China’s Reform and Opening Up, and with the needs of modern society.; The Beijing News | 2011-03-11

SECURITY: Galaxy Securities Executive Sentenced to Death With 2-Year Reprieve; Wang Changlin, a former executive at Galaxy Securities - one of China's largest and oldest securities firms - was handed a death sentence with a two-year reprieve for embezzling over 11 million yuan between 2002 and 2004, by the Beijing No. 1 Intermediate People’s Court on Mar 8.; Beijing Youth Daily | 2011-03-10

PROPERTY: Public Housing Construction to Exceed that of Commercial Properties for First Ti...; The central government has announced that it plans to oversee the construction of about ten million government-subsidized homes this year, requiring a total investment of 1.3 trillion yuan, close to 200 billion yuan of which will come from central government coffers. Considering last year only around nine million commercial apartments were built nationwide and that the amount of commercial housing...; Shanghai Securities Journal | 2011-03-10

STOCK: China Shanghai Stock Exchange Plans to Quicken Pace of Expansion; At a meeting in Beijing yesterday, Geng Liang, the chairman of the Shanghai Stock Exchange, revealed that the bourse plans to list around 50 additional companies every year over the next 5 years. Last year, only 26 additional companies were listed on the board.; Sina Finance | 2011-03-10

EXPENSES: China Spent 59 Million Yuan on Last Year's CPPCC Meeting; On Mar 2, at a press briefing ahead of the opening of this year's meeting of the National People's Congress and Chinese People's Political Consultative Committee (CPPCC) a journalist asked how much it costs to hold the meetings of the two bodies in Beijing every March. The official responded that he didn't have the statistics at hand but promised that "after a couple of days I'll send it to you in...; China News Service | 2011-03-10

HUMAN RESOURCES: Minister of Human Resources and Social Security: Delayed Retirement Trend Among ...; "There's a trend for female workers to delay their retirement, but currently we are just researching the situation," Yin Weimin, Minister of the Human Resources and Social Security, said in an interview yesterday. The Minister refused to say if there were any plans to increase the official retirement of female workers, which is currently 50 for some workers and 55 for others.; People's Daily Online | 2011-03-09

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Beijing Residents Shaken as Earthquake Strikes Japan: Beijing residents feel the impact of the earthquake in northeast Japan.; Source:Economic Observer Online

China's CPI Up 4.9% in February: Food prices were up 11% with the average price of vegetables increasing by 15.2 percent; Source:National Bureau of Statistics

POLICY: China Policy Barometer 2011 (Part I); A look at what the heads of 23 central government departments view as the most important g...

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