Yuan settlements in Taiwan exceed 1.54 trillion
Central News Agency
2014-01-15 11:28 PM
Taipei, Jan. 15 (CNA) Chinese yuan settlements handled by the Bank of China's Taipei Branch amounted to more than 1.54 trillion yuan (US$254.68 billion) as of the end of December last year, according to the Central Bank of the Republic of China (Taiwan) on Wednesday. Yuan settlements in December reached 323.1 billion yuan, a close to 10-fold growth from February to March last year, the data showed. On Feb. 6 last year, Taiwan's domestic banking units (DBUs) gained permission to carry out yuan-denominated transactions. Yuan settlements handled by the Bank of China's Taipei Branch were 34.2 billion yuan in February and March 2013. On August 31, 2012, Taiwan and China signed an agreement on cross-strait currency clearing cooperation. The People's Bank of China and the Bank of China's Taipei Branch subsequently signed an agreement on yuan clearing business on Jan. 25 last year. (By Kao Chao-fen and Christie Chen)
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