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China approves yuan, New Taiwan dollar exchanges in Guangdong

China approves yuan, New Taiwan dollar exchanges in Guangdong

Write: Suki [2011-05-20]
Tags: the yuan

Beijing - The Chinese mainland has approved mutual direct exchange of the yuan and the New Taiwan Dollar (TWD) in Guangdong province, where the Asian Games will open on Friday.The State Administration of Foreign Exchange has permitted two mainland banks -- Industrial and Commercial Bank of China and Bank of China -- to provide exchange services in Guangdong, said Fan Liqing, spokeswoman for the State Council Taiwan Affairs Office at a press conference Wednesday.

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