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Taiwanese businessman misled by Chinese bank

A Taiwanese businessman investing in China was shocked when he found that a 50 million yuan (US$8 million) loan he applied for from the China Construction Bank (CCB) more than a year ago actually went into a unrelated business in China and was used as collateral for another 90 million yuan loan.

The 73-year-old Chen Hsi-so (陳細鎖) said that on the recommendation of a friend, he opened a lime absorbent plant in Wuping District, Longyan, in China’s Fujian Province last year, and applied for a 50 million yuan loan from CCB’s branch in Wuping.

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Politicians urge Ma to reflect on criticism

After an article in the latest edition of the Economist magazine called President Ma Ying-jeou (馬英九) a bumbler, politicians across party lines yesterday said that Ma should thoroughly reflect on his leadership and governance practices.

In the piece entitled “Ma the Bumbler,” the global publication said that in addition to the dismal international economy, “Mr. Ma’s leadership is also to blame” for some of Taiwan’s problems.

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Newsflash

Taiwan has been included on a list of countries unwanted at Canada Day events, the Canadian Press news agency reported on Sunday.

The Canadian Trade Office in Taipei was not able to verify the information, which the Canadian Press obtained under the Canadian Access to Information Act, which provides access to information under the Ottawa’s control.

According to the report, the Canadian Department of Foreign Affairs, Trade and Development circulates a persona non grata list in June each year, warning its embassies, consulates and other overseas missions to bar them from local events marking Canada Day, which is on July 1.