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

LAW: Lawyer Jailed for Fabricating Evidence in Chongqing Gang Case Faces Further Pros...; Li Zhuang, a Beijing lawyer jailed on charges of fabricating evidence in relation to his work representing suspects caught up in Chongqing's crackdown on gang-related crime in 2009, faces further prosecution on additional charges. Li Zhuang's case attracted a lot of attention as he first accused police of torturing his client while under interrogation and later, when he himself took the stand, acc...; Xinhua News Agency | 2011-03-30

MISTAKES: Embarrassing Mistakes in Report Published by Ministry of Human Resources; The Ministry of Human Resources and Social Security has attributed mistakes that appeared in its 2010 Annual Report on Open Government to technical errors and has corrected the mistakes online. In what looks like a case of blatant copy and paste, the earlier version of the report contained the line "all the figures in this report were gathered from January 1st, 2010 to December 31, 2009."; The Beijing News | 2011-03-30

ENVIRONMENT: NDRC Releases Energy and Water Consumption Targets for 2011; The National Development and Reform Commission (NDRC) has released energy-saving and environmental-protection targets for 2011. The NDRC said their goal is to reduce energy consumption per unit of GDP growth by 3.5% on last year's level and decrease water consumption per 10,000 RMB worth of industrial value-added by 7%. It’s said that policy measures aimed at achieving the energy-saving and enviro...; China Securities Journal | 2011-03-30

BANK: China's Banking Sector Earns 900 Billion Yuan in Profits in 2010; China's banking sector earned 899.1 billion yuan of after-tax profits in 2010, a year-on-year growth rate of 34.5%, according to statistics released by the China Banking Regulatory Commission.; China Business News | 2011-03-30

MIGRANT POPULATION: Migrant Children Able to Take College Entrance Exams in Their Cities of Residenc...; Du Yubo, deputy minister of education, said in a news briefing yesterday that the ministry will issue new policies permitting the children of migrant workers to take the “College entrance Examination” (gaokao) in their city of residence.; Beijing Morning Post | 2011-03-29

OVERSEAS INVESTMENT: State Council Considers Establishing Supervision Department for Overseas Investm...; The State Council is looking to establish a supervision department for overseas investment in parallel with the State-owned Asset Supervision and Administration Commission (SASAC), according to a report from Xinmin Daily. All 13 centrally-owned enterprises (COEs) have suspended their projects in Libya. The value of the suspended projects of just four COEs, including China Construction Corporate, i...; Xinmin Daily | 2011-03-29

COES: Chinese Oil Giants Rake in 265 Billion Yuan in Profits; China’s three leading oil giants, Sinopec, Petro China and China National Offshore Oil Corporation (CNOOC) earned combined profits of 264.99 billion yuan last year, indicating an average profit of 730 million yuan per day. The reported profits have triggered suspicion and outrage among Internet users because, as analyst Yu Fenghui put it, consumers always end up paying the price for oil industry p...; Beijing Morning Post | 2011-03-29

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Controversy Over Jurisdiction Emerges in Chongqing's Pursuit of Beijin...: The latest chapter in the ongoing saga of the "Li Zhuang Case" has once again ignited controversy among China's legal community; Source:Economic Observer Online

Dongzhimen Blast Suspect Targeted Foreigners: The trial of a young man accused of setting off a home-made explosive device in the vicinity of Beijing's Dongzhimen last year began on Wednesday.; Source:Beijing Evening News

BOOK REVIEW: March 2011 Issue of EO's Book Review; Highlights from this month's issue of EO's Book Review

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