The Ministry of Finance yesterday lashed out at former vice minister, Day Li-nin (
"Regardless of the nature of the post under the Chinese commission's international advisory committee, such a move is absolutely inappropriate given the current cross-strait tension," Vice Minister of Finance Susan Chang (
Day, 66, was vice finance minister between 1995 and 1996. He then served as chairman and chief executive officer of the Bank of Overseas Chinese (
He resigned from the posts in 2001, citing the lack of improvement in the bank's overdue loan ratio. Day has since then stayed in academic circles and focused on cross-strait financial developments.
The ministry is looking into the legal issues relating to a retired government official taking an official job in China, whether in an official or advisory capacity, according to Chang.
But Day yesterday defended his plans and urged the government not to make an issue of his relocation.
"As a [finance] professional, I am very much honored to take up the advisory post," the local cable TV program Era News yesterday quoted Day as saying.
His new post will last two years and require him to attend scheduled meetings once a year without pay, he told the cable station.
During the interview, Day said he was well-qualified for the new post, citing his various finance ministry positions leading the insurance and finance departments and the securities commission.
But the Mainland Affairs Council expressed concern yesterday, saying that it is "highly politically sensitive" for Day to take up the post.
The council added that retired government officials are forbidden to take up any posts at the China Securities Regulatory Commission, although it was not clear whether its affiliate international advisory committee is an official body.
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