Taiwan eases China currency rules September 11, 2008
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They will also be available at foreign-currency trading counters at tourist hotels, airports and gift stores.
Tourist influx
The move comes just a few days before the start of regular direct weekend charter flights between Taiwan and China – marking a new chapter in relations between the two political rivals.
But the step is also considered a virtual necessity, since from next month up to 3,000 Chinese tourists will be allowed to visit Taiwan each day.
The move will provide a legal channel for them to exchange their money for local currency to spend in Taiwan.
The absence of a currency exchange service between Taiwan and China had led to rampant black market currency trading.
Under the new regulations, anyone will be able to buy or sell Chinese yuan at authorised institutions, although the government has initially set a cap of 20,000 yuan – just under $3,000 (1,500) – for each transaction.
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