ChinaBlog.George.Yuyu.Huang

1. Chongqing, the economical special region in southwest china, issued a regulation that permits the farmers to use the operation right of land as the capital in the deal. In the reform regarding to the transition of operation right of land, government granted farmers use the right as the share of association, partnership or company. But the precondition is that those lands can not be developed in any projects except agriculture.

2. Wang Guangtao, the minister of construction, asked policemen of Guangdong province to investigate and reveal the event that labors who claimed salaries were beaten. Among those labors, 10 people were injured and 2 were dead. At present, two killers have been arrested by the local policeman.

3. China State Council will push the quantified measure to value the performance of the officials, aiming at ameliorating the image of the powerful officials. The long-expected reform is considered the key issue of the administrative reform in the establishment of the government that provides public service under law.

4. The statistics revealed by the Ministry of Labor showed that the total sum and average wage of Chinese people growth consecutively more that 10 percent in the last four years, that the rate surpassed that of GDP and GDP per capita, and that it is the highest period since opening up and reform.

5. The central government of china will issue 1.55 trillion special bonds to fiancé its investment body. Those bonds will be bought by financial institutions and the fund will be use to purchase the foreign exchange from the People’s Bank of China, the Chinese central bank. The investment body is expected to lift the pressure of central bank from the flooded foreign as a result of booming exports and to cool the heated macro economy caused by investment under the excessive liquidity. The response of the investors of stock market is neither optimistic nor pessimistic.

6. PetroChina will come back to china stock market and fund at least 5 billion dollars by the A shares. It will not be the only one example of the return of those blues chips. Government is scheduling the list of giant SOE, such as China Construction Bank, China Mobile Telecom, and China Unicom.

7. China Security Regulation Commission issued the regulation about the information release, focusing on disclosure of the investment of listed corporation on shares in their interim reports. Hai Wen, the professor of Beijing University, said the amendment is a crucial step from the old rule of accounting to the new one.

8. Guangdong Development Securities Corporation is under investigation by China Security Regulation Commission for its false and misleading statement. The executive level managers of the company who involved in the insider trading will be arrested by policemen. But the Guangdong government is still support the company.

9. People’s Daily, the newspaper of CPC, issued the 5th editorial, emphasizing that china is still and will long be in the primary stage of socialist. It echoed the speech of Hu Jintao, Chinese president, on June 25. Hu laid down the theme of the 17th national congress of CPC and step forward to the dominance in the party.

10. Chen Tonghai, the former CEO of Sinopec, is under investigation for his mistakes in the huge investment in Qingdao. The project wasted at least 3 billion Yuan according to the report of audit department. He is also a role of the rumor that some SOE CEOs involved in Shanghais pension scandal. However, it has not been verified. Chen is the son of Chen Weida, a revolutionist who had been the Secretary of Zhejing province and Tianjin.

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