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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

US President Barack Obama must show strong support for the vital security interests of Taiwan, a key strategic partner, when he meets Chinese Vice President Xi Jinping (習近平) at the White House, US senators said in a letter to Obama.

The letter, signed by US senators John Cornyn, Robert Menendez and 10 other members of the upper house on Capitol Hill, said that as the rapid modernization and lack of transparency of China’s military troubled its neighbors, Obama should reinforce with Xi the US’ commitment to support the “robust democracy” and Washington’s “steadfast commitment” to Taiwan and its security.