Taiwan may relax yuan exchange restrictions
14 July 2004
Taiwan officials announced that they are considering relaxing a ban on currency exchange between New Taiwan dollars and the renminbi in response to increased demand. Officials said any decisions on the issue would be decided during a meeting between Taiwan's central bank and other relevant authorities. Taiwan made a first step towards free currency conversion this year by allowing five cities in Fujian province to operate New Taiwan dollar-renminbi exchange services. Relaxing currency restrictions would allow Taiwan-based businesses to transfer their profits from mainland businesses back home more easily.