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  • November 25, 2014
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  1. SAFE expands currency exchange services

    Posted Aug 21st 2008, 12:00am by Staff Reporter

    ... Jane Cai in Beijing Non-financial institutions on the mainland have been cleared to offer currency exchange services to individuals on a trial basis in Beijing and Shanghai. Qualified ... to conduct currency exchanges through banks. The yuan is not freely convertible, making it difficult for companies and individuals to take the currency in and out of the country. The government ...

  2. Taipei may expand currency exchanges

    Posted Oct 25th 2005, 12:00am by Lawrence Chung

    ... Lawrence Chung in Taipei Taiwanese authorities will consider allowing transactions with the mainland currency inside Taiwan if the trial exchanges on two offshore islands are successful, ... currency exchanges on the two defensive outposts, which are the only two areas conducting Taiwan's 'mini-three links' with the mainland cities of Xiamen and Fuzhou. But only ...

  3. Taipei considers easing ban on currency exchange

    Posted Jul 14th 2004, 12:00am by Jacky Hsu

    ... Jacky Hsu Taiwan may relax its ban on currency exchanges between New Taiwan dollars and the yuan due to increasing demand. Chiu Tai-san, vice-chairman of the Mainland Affairs Council, said ... the central bank,' said Mr Chiu. The meeting would also discuss how much currency people could exchange, he said. Rising demand for the service was the main consideration behind easing the ban, ...

  4. Taipei okays currency exchanges on islands

    Posted Sep 29th 2005, 12:00am by Jacky Hsu

    ... Jacky Hsu Taiwan is to allow currency exchanges between the new Taiwan dollar and the yuan on a trial basis on the outlying islands of Quemoy and Matsu. The measure, which takes effect ... a cabinet meeting in Taipei. He said up to 20,000 yuan (NT$80,000) could be exchanged in each transaction. But Mr Hsieh said that until both sides signed a currency-clearance agreement, ...

  5. Currency exchange rates hold sway over hotel tariffs

    Posted Nov 01st 2004, 12:00am by Murray Bailey

    ... For those controlling travel budgets in Hong Kong, currency exchange rates have become an important factor. With the US dollar falling in value over the past two years, hotels in some cities would ... for a room in London and in New York than you paid in 2000- 14.9 per cent less in London, and 8.7 per cent less in New York. But that's when calculated in local currencies. In New York, ...

  6. News - China

    Taiwan banks to offer Chinese yuan services

    Posted Feb 05th 2013, 09:26pm by AFP

    ... sign of warming economic ties between the former rivals. The regulations, which follow an agreement signed last August, are expected to lower the risk of exchange rate fluctuation and the cost of currency exchange, officials said. Trade between Taiwan and the mainland amounted to US$168.96 billion last year according to Chinese figures. As of Tuesday, the offshore banking units of 45 ...

  7. Exporters cheer loan rise, rue lack of orders

    Posted Feb 13th 2009, 12:00am by Denise Tsang

    ... by either depreciating the yuan or offering export credits, such as tax rebates. 'If nothing is done with the currency, there will be an even bigger drop in export orders,' said Mr ... arguing that China could not be exempt from the reality that the currencies of its key trading partners- the European Union, Britain and Japan- were depreciating against the greenback. However, ...

  8. Business - Economy

    Think tank predicts 5.7 yuan to the US dollar by 2017

    Posted Nov 07th 2012, 01:53pm by Staff Reporter

    ... Staff Reporter The exchange rate of the Chinese yuan against the US dollar will be 5.7 in 2017, Caixin reports, citing a private think tank’s prediction. Beijing based West Brothers Economic Institute predicts China’s currency will appreciate 9.5 per cent over the next five years, up from its current rate of 6.3 to 5.7 against the US dollar, Caixin, a leading business weekly ...

  9. News - World - FINANCE: ANALYSIS

    Failure of Mt Gox bitcoin exchange hurts virtual currency’s prospects

    Posted Feb 26th 2014, 09:14pm by AP

    ... The sudden disappearance of one of the largest bitcoin exchanges adds to the mystery and mistrust surrounding the virtual currency, which was beginning to gain legitimacy beyond the technology ... exchange BTC China sought to shore up confidence in the currency by saying the Mt Gox situation was isolated and the result of abusing users' trust. They offered no details. "As with any ...

  10. Business - Economy - REGULATION

    China eases rules on foreign investment

    Posted Nov 22nd 2012, 12:00am by Victoria Ruan

    ... Exchange yesterday said that from December 17, it would cancel the complex review procedures related to capital flows and currency exchange quotas of foreign enterprises. These companies will now ... towards the nation's economic and currency prospect, leading to "a bit stronger yuan exchange rate pattern". ...




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