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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

Taiwan would confront the destabilizing forces working against democracies while strengthening cooperation with democratic nations, President Tsai Ing-wen (蔡英文) said in Taipei yesterday at an event marking the 20th anniversary of the state-financed Taiwan Foundation for Democracy.

Democratic nations and the rules-based international community are confronting their “greatest challenge” since the Cold War, Tsai said.

Authoritarian regimes are mounting an effort to “corrode our democratic institutions and undermine human rights” in a bid to spread societal distrust and weaken public confidence in democracy, she said.