Chairman of Hua Nan Commercial Bank (彰化銀行), Edward Chien (簡弘道), has left his post to run an agency established to help local banks clean their balance sheets.
Speaking to the Taipei Times by phone, Chien confirmed he will take over the position as chairman of the agency slated to help auction off bad loans on behalf of banks, the Taiwan Financial Asset Service Company. The company will mainly serve as an impartial third party in the disposal of bad assets by asset management companies (AMCs) or regulatory authorities.
An official at the Ministy of Finance said Chien is the right man for the job. Chien has ``all the necessary qualifications to run the financial agency,'' finance ministry spokesman Jen Tai-sheng (
Minister of FinanceYen Ching-chang (
The move is seen as part of the finance ministry's stepped-up effort to clean up the nation's financial industry, which is burdened with billions of dollars of bad loans. The 14-month-old government of President Chen Shui-bian (
Hua Nan's vice-chairman Lin Ming-cheng (
A group of local banks set up the financial assets service company structure back in January with the Taiwan Bankers Association charged with managing the company's preparatory committee.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
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