China's top 10 economic news stories of 2008, selected by the editors-in-chief and deputy editors-in-chief from 16 news outlets in Beijing together with famous economists in China, were announced on Dec. 30 in Beijing. China's top 10 economic news stories of 2008, selected by the editors-in-chief and deputy editors-in-chief from 16 news outlets in Beijing together with famous economists in China, were announced on Dec. 30 in Beijing.

The top 10 economic news stories selected, in chronological order, are:

1) The implementation of the Labor Contract Law of People's Republic of China which attracted much attention from all circles;

2) Economic losses of more than 150 billion yuan were suffered, as a result of serious ice and snow storms in some areas of South China;

3) After a strong 8-magnitude earthquake hit Wenchuan of Sichuan, China carried out the largest-scale rescue mission and reconstruction program;

4) The successful staging of the Beijing 2008 Olympic Games demonstrated China's comprehensive national strength;

5) The Sanlu infant formula milk powder incident initiated comprehensive clean-up of the dairy industry;

6) CPC Central Committee's Decisions on Major Issues Concerning the Advancement of Rural Reform and Development was approved and passed by the Third Plenary Session of the 17th Central Committee of the CPC;

7) The stock market continuously declined with the benchmark Shanghai Composite Index hitting a record low, and multiple measures were taken to promote the steady development of the capital market;

8) The international financial crisis caused strong impact on the Chinese economy, forcing the central government of China to make major adjustments to its macroeconomic policies;

9) The reform scheme regarding fuel taxation and the oil pricing mechanism was released to solicit public opinion and will be implemented from January 1 of next year;

10) The "three direct links of trade, mail, air and shipping services across the Taiwan Straits" were basically realized and had a far-reaching effect on the economic relations between Chinese mainland and Taiwan.

By People's Daily Online

http://paper.people.com.cn/rmrb/html/2008-12/31/content_168130.htm 

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