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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

While the New Power Party (NPP) caucus had proposed constitutional amendments, the Taiwan Solidarity Union (TSU) yesterday said that constitutional reform is a “false issue” because amending the Constitution has been made almost impossible, and only establishing a new constitution altogether would help Taiwan.

“Constitutional amendment is a false issue, because amendments passed in 2005 made it almost impossible to amend the Constitution,” TSU spokeswoman Chou Ni-an (周倪安) told a news conference in Taipei yesterday.