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Key IT firm may be China-owned

An information technology company that provides key systems software for much of the country’s financial institutions is alleged to have been bought by a major China-based investor, an opposition legislator said.

The purchase has raised questions among Democratic Progressive Party (DPP) lawmakers on just how much of Taiwan’s sensitive financial data may have flown across the Taiwan Strait to Chinese companies.

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Hau admits crisis of overpriced flowers

Taipei Mayor Hau Lung-bin (郝龍斌) admitted yesterday that problems with procurement contracts handled by the city government have dampened his popularity and clouded his bid for a second term in the year-end election.

“It is without a doubt a crisis,” said Hau of the Chinese Nationalist Party (KMT), adding that he has briefed President Ma Ying-jeou (馬英九) — who doubles as the KMT chairman — and KMT Secretary-General King Pu-tsung (金溥聰) on the ins and outs of the matter.

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Newsflash

While the Economic Cooperation Framework Agreement (ECFA) will have modest global economic effects, the geo-economic implications are significant enough to demand strategic attention from the US, two US international economists said in a recent study.

Daniel Rosen and Zhi Wang of the Washington-based Peterson Institute for International Economics wrote that the ECFA underscores the importance of securing US economic engagement of the first order in Asia.