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Taiwanese businessman misled by Chinese bank

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.

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Politicians urge Ma to reflect on criticism

After an article in the latest edition of the Economist magazine called President Ma Ying-jeou (馬英九) a bumbler, politicians across party lines yesterday said that Ma should thoroughly reflect on his leadership and governance practices.

In the piece entitled “Ma the Bumbler,” the global publication said that in addition to the dismal international economy, “Mr. Ma’s leadership is also to blame” for some of Taiwan’s problems.

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Newsflash

The Ministry of Education (MOE) yesterday denied it would put more emphasis on Chinese history, saying a task force was still considering making changes to the high school curriculum.

“The Department of Secondary Education’s stance on the issue is clear. We respect the expertise of the task force,” department director Chang Ming-wen (張明文) told reporters at the ministry. “[The task force] has not finalized the changes. I believe members of the task force will consider public opinion when deliberating the issue.”