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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


Students outside the Legislative Yuan in Taipei yesterday hold up cardboard signs calling for the passage of oversight legislation prior to a review of the cross-strait service trade agreement, as police clear the way for legislators and staff vehicles to enter and leave the complex.
Photo: Chang Chia-ming, Taipei Times

Student activists occupying the legislative chamber yesterday rejected the Cabinet’s proposal for legislation to monitor cross-strait agreements, calling it an empty, insincere proposal aimed at deceiving the public.

“The Cabinet proposal is rather superficial, especially when [the premier] rejects our demand to apply the law to the review of the cross-strait service trade agreement,” student leader Chen Wei-ting (陳為廷) told a news conference at the Legislative Yuan.