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Wu met pro-Beijing politician in HK

The Executive Yuan yesterday said Premier Wu Den-yih (吳敦義) met Hong Kong politician Leung Chun-ying (梁振英) during his visit to Hong Kong on Sept. 5.

Leung is the convenor of the non-official members of the Executive Council of Hong Kong and has been mentioned in Hong Kong media as a likely successor to Donald Tsang (曾蔭權) as the territory’s chief executive in 2012.

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Chen trial was a test of democracy, analysts say

The trial of former president Chen Shui-bian (陳水扁) was a test of Taiwan’s young democracy — and the country received just average marks, observers say.

The Taipei District Court on Friday found 58-year-old Chen — in detention since December — guilty of embezzling state funds, laundering money, accepting bribes and committing forgery.

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Newsflash

A Taiwanese businessman investing in China was shocked when he found that a 50 million yuan (US$8 million) loan he applied for from the China Construction Bank (CCB) more than a year ago actually went into a unrelated business in China and was used as collateral for another 90 million yuan loan.

The 73-year-old Chen Hsi-so (陳細鎖) said that on the recommendation of a friend, he opened a lime absorbent plant in Wuping District, Longyan, in China’s Fujian Province last year, and applied for a 50 million yuan loan from CCB’s branch in Wuping.