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Cabinet task force to probe derailment


An aerial photograph taken yesterday shows carriages of the Puyuma Express train that derailed on Sunday afternoon in Yilan County.
Photo: Daniel Shih, AFP

The Cabinet yesterday established a task force to investigate Sunday’s deadly train accident in Yilan County.

The 15-member task force is led by Minister Without Portfolio Wu Tze-cheng (吳澤成), while Bureau of High Speed Rail Director-General Allen Hu (胡湘麟) serves as executive secretary and spokesman, Cabinet spokeswoman Kolas Yotaka said.

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Firms in China face policy risk

Data released by the Chinese National Bureau of Statistics on Friday showed that China’s GDP growth slowed to 6.5 percent in the third quarter, the lowest since early 2009. China’s growth faces increasing pressure from the US-China trade war, Beijing’s financial deleveraging and property curbs, the US Federal Reserve’s interest rate hikes and a weakening yuan that is prompting capital outflows.

The People’s Bank of China has lowered its reserve requirement ratio four times to encourage lending and has urged banks to increase lending to cash-starved small companies, but Chinese media have reported that banks’ loan requirements for small firms and private companies remain stringent, and further reserve requirement reduction is expected.

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Newsflash

The BBC’s ambitions in China, one of the fastest-growing television markets in the world, could be undermined by the Chinese government’s anger over a recent documentary about the Tiananmen Square Massacre.

The Chinese authorities are understood to have ordered state-owned broadcasters in the country not to cooperate with BBC Worldwide, the corporation’s commercial arm, after officials were angered by the film, made by the respected reporter Kate Adie to commemorate the 20th anniversary of the pro-democracy protests. It is understood that domestic broadcasters, including China Central Television (CCTV), have been told not to cooperate with BBC Worldwide in buying programs or becoming involved in coproductions. BBC News is believed to be unaffected by the row, however.