International Law

RMB Freely Bought and Sold on Taiwan as of Today

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[Editor's Translation: Today, the RMB is freely convertible throughout Taiwan, and it is estimated that banks have prepared 500 million RMB for that purpose. Regulations make NT-RMB conversion the same as conversion with other foreign currencies, requiring only an ID, passport or similar documentation of identity. with 20,000 RMB at most converted in any one transaction. However, because of the limited supply at first, some bank branches may only be buying and not selling at this time. Customers should call ahead for availablity before traveling to their branch.]

Read more here and here. [In Chinese.}

Full post as published by Asia Business Intelligence on June 30, 2008 (boomark / email).