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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 first lady Wu Shu-jen (吳淑珍) has been ordered to report to Taichung Prison’s Pei Teh Hospital next Friday to undergo an evaluation to see if she is well enough to serve a lengthy jail sentence, her son said yesterday.

Chen Chih-chung (陳致中) said his family was deeply worried about the decision by judicial authorities because his mother, who is paralyzed from the waist down, cannot care for herself on a daily basis.