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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

Japanese Prime Minister Shinzo Abe said on Wednesday that his government invited Taiwan to send a representative to an earthquake memorial service to make amends for the fact that Taiwan was not properly recognized at last year’s ceremony.

Although Taiwan donated more than ¥20 billion (US$208.2 million) in relief and reconstruction aid after the 2011 earthquake and tsunami, more than any other country, it was not named at last year’s anniversary memorial on the list of the countries that had helped Japan, Abe said in a Facebook post.