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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 president Chen Shui-bian (陳水扁) was found not guilty by the Taiwan High Court yesterday of directing his aides to give false testimony to prosecutors who were probing his alleged misuse of a special state affairs fund.

The High Court ruling overturned one handed down by the Taipei District Court in July last year, in which Chen was sentenced to two months in jail on charges of urging Ma Yung-cheng (馬永成) and Lin Teh-hsun (林德訓) — who headed Chen’s office at different times during his two terms as president from 2000 to 2008 — to make untrue statements.