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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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Falun Gong stages anti-CCP march

About 2,000 Falun Gong ­practitioners staged a march in Taipei City yesterday in support of the nearly 70 million people they claim have dropped out of the Chinese Communist Party (CCP) since 2005.

Holding banners that read “support China’s human rights = support Taiwan’s freedom” and “only with the disintegration of the CCP can the persecution be stopped,” demonstrators gathered on Ketagalan Boulevard to denounce criminal acts allegedly carried out by the Chinese authoritarian regime against Falun Gong practitioners, including harvesting organs from living people.

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Newsflash

Taiwan came under pressure from the EU, European Parliament members and Amnesty International, who said it has failed to honor its commitment to end the death penalty after it executed six death-row inmates on Friday, bringing the number of people executed to 15 in the past three years, following a more than four-year hiatus since late 2005.

In a statement released via the European Economic and Trade Office in Taipei late on Friday night, EU High Representative for Foreign Affairs and Security Policy Catherine Ashton said that she “deplore[s]” the six executions on Friday. She added that the action “goes against the abolitionist trend worldwide.”