Chunghwa Post officially inaugurated direct Chinese yuan-denominated remittances today. A total of 165 post office locations throughout Taiwan will be able to perform this new service.
One of Taiwan's largest institutions is now entering the Chinese yuan remittance business.
In the past, those wanting to remit Chinese yuan, would first have to convert NT dollars into US dollars which were then remitted to a recipient in China who would need to convert the foreign currency into Chinese yuan. Now, people in Taiwan can convert NT dollars into Chinese yuan and have the funds directly remitted.
A fee of NT$250 will be charged and transactions will be capped at around NT$100,000 per remittance.
Ong Wen-chyi
Chunghwa Post Chairman
We spent at least six months ensuring that there were no problems with this remittance service and later discussed with relevant authorities how to take the next step. Logically speaking, if you make a remittance, you should also have a savings account. This involves many factors, so we needed to respect the opinions of authorities on this matter.
According to Chunghwa Post, a total of NT$1.3 billion was remitted to China by the post office last year, with the amount coming into Taiwan from China amounting to NT$400 million. The post office expects that direct yuan remittances will allow it to earn upwards of NT$10 million in transaction fees each year.
資料來源：
http://englishnews.ftv.com.tw/read.aspx?sno=8B0B7B54E229A4512B2C251C8F8440B3
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