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China sees bank risks in local-government financing

Chinese central bank Governor Zhou Xiaochuan (周小川) said that local-government financing vehicles using land as collateral may pose risks for the nation’s banks.

“When land prices rise, there may be over-valuation of land,” Zhou said at a press briefing in Beijing yesterday. “In the future, if land prices fall, there may be a difference in the assessment of the loan.”

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Falun Gong stages anti-CCP march

About 2,000 Falun Gong ­practitioners staged a march in Taipei City yesterday in support of the nearly 70 million people they claim have dropped out of the Chinese Communist Party (CCP) since 2005.

Holding banners that read “support China’s human rights = support Taiwan’s freedom” and “only with the disintegration of the CCP can the persecution be stopped,” demonstrators gathered on Ketagalan Boulevard to denounce criminal acts allegedly carried out by the Chinese authoritarian regime against Falun Gong practitioners, including harvesting organs from living people.

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Newsflash


Former Democratic Progressive Party chairman Lin Yi-xiong is surrounded by people at the Gikong Presbyterian Church in Taipei yesterday, where he is conducting an indefinite hunger strike.
Photo: Fang Pin-chao, Taipei Times

Former Democratic Progressive Party (DPP) chairman Lin Yi-xiong (林義雄) yesterday said that President Ma Ying-jeou’s (馬英九) pledge to determine the fate of the Fourth Nuclear Power Plant in New Taipei City’s Gongliao District (貢寮) through a national referendum is unconstitutional and interferes in the power of other branches of government.

Lin’s hunger strike to halt construction of the plant entered its third day yesterday at the Gikong Presbyterian Church in Tapei.