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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


The Ticonderoga-class guided-missile cruiser USS Chancellorsville transits the East China Sea in the Taiwan Strait during routine operations yesterday.
Photo: AFP / Justin Stack / US NAVY

Two US warships yesterday sailed through the Taiwan Strait, the US Navy said, the first such transit since China staged unprecedented military drills around Taiwan, which the Ministry of National Defense said are still ongoing.

In a statement, the US Navy said the transit “demonstrates the United States’ commitment to a free and open Indo-Pacific.”