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Google threatens to quit China

Internet giant Google Inc on Tuesday made a shock threat to quit China, the world’s biggest Internet market by number of users, after hackers accessed human rights activists’ e-mail accounts.

“These attacks and the surveillance they have uncovered — combined with attempts over the past year to further limit free speech on the Web — have led us to conclude that we should review the feasibility of our business operations in China,” Google chief legal officer David Drummond said in a statement.

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PRC surprises with early increase in bank reserve ratio

China yesterday raised the proportion of deposits that banks must hold in reserve in the clearest sign yet that it has started to tighten monetary policy with its economy roaring back to the brink of overheating.

The 0.5 percentage point increase in the reserve requirement ratio (RRR) will take effect on Monday and will apply to all banks apart from rural credit cooperatives, the People’s Bank of China said on its Web site.

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Newsflash

Former president Chen Shui-bian (陳水扁) revealed in an interview that some pro-independence groups did not like the idea of seeing former vice president Annette Lu (呂秀蓮) take over the presidency should he step down at the height of the corruption allegations against him in 2006, adding that his resignation would only have led to the collapse of the Democratic Progressive Party (DPP).

Lu said Chen told the "Formosa Weekly," which she founded, his side of the story regarding the “red shirt campaign” organized by former DPP chairman Shih Ming-teh (施明德) to depose Chen in 2006.