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Health minister resigns over premium dispute

Department of Health Minister Yaung Chih-liang (楊志良) tendered his resignation in a shock move yesterday, saying he could not fulfill Premier Wu Den-yih’s (吳敦義) request that 75 percent of the insured be exempted from a proposal to increase national health insurance premiums.

Wu rejected Yaung’s resignation late last night, however. Executive Yuan spokesman Johnny Chiang (江啟臣) said the premier hoped Yaung would stay in the position.

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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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Newsflash

Defying the executive branch once again, the legislative caucuses of the Chinese Nationalist Party (KMT) and the Democratic Progressive Party (DPP) on Tuesday reached a consensus to ban “risky” beef products, including bone-in beef, offal and ground beef, from areas where cases of mad cow disease have been documented in the past 10 years.

This outcome is a stern rebuke for President Ma Ying-jeou’s (馬英九) administration, which in October said it would relax restrictions on beef imports — but without any political preparation. Not only was there no prior consultation with local health experts, but it was also in blatant defiance of a legislative resolution from 2006 that requires the Department of Health to submit a detailed report to the legislature before lifting bans on US beef.