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Cabinet task force to probe derailment


An aerial photograph taken yesterday shows carriages of the Puyuma Express train that derailed on Sunday afternoon in Yilan County.
Photo: Daniel Shih, AFP

The Cabinet yesterday established a task force to investigate Sunday’s deadly train accident in Yilan County.

The 15-member task force is led by Minister Without Portfolio Wu Tze-cheng (吳澤成), while Bureau of High Speed Rail Director-General Allen Hu (胡湘麟) serves as executive secretary and spokesman, Cabinet spokeswoman Kolas Yotaka said.

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Firms in China face policy risk

Data released by the Chinese National Bureau of Statistics on Friday showed that China’s GDP growth slowed to 6.5 percent in the third quarter, the lowest since early 2009. China’s growth faces increasing pressure from the US-China trade war, Beijing’s financial deleveraging and property curbs, the US Federal Reserve’s interest rate hikes and a weakening yuan that is prompting capital outflows.

The People’s Bank of China has lowered its reserve requirement ratio four times to encourage lending and has urged banks to increase lending to cash-starved small companies, but Chinese media have reported that banks’ loan requirements for small firms and private companies remain stringent, and further reserve requirement reduction is expected.

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Newsflash


Convener of the 908 Taiwan Republic Campaign Peter Wang, fourth left, and other members of the group hold up signs and encourage the public to come together on Jan. 13 in a rally against President Ma Ying-jeou.
Photo: Fang Pin-chao, Taipei Times

Democratic Progressive Party (DPP) Chairman Su Tseng-chang (蘇貞昌) yesterday criticized the Chinese Nationalist Party (KMT) over its assets, saying the KMT administration had secretly sold its ill-gotten assets, pocketed substantial commissions from the transactions and used the profits to heavily subsidize the party’s election campaigns, spawning grave public grievance in the country.

Accompanied by lawyer Wellington Koo (顧立雄) and representatives from the Foundation of Medical Professionals Alliance in Taiwan, the Rotary Club and the Taiwan Junior Chamber, Su made the remarks at a press conference in Taipei, titled “Giving vent to fury” (火大找出路), which called on more than 1,000 civil groups to hit the streets along with the party in a planned mass demonstration in Taipei against President Ma Ying-jeou’s (馬英九) administration.