Taiwan revises law to allow conversion of Taiwan, Chinese dollars
Taipei - Taiwan's parliament Thursday approved an amendment to allow conversion between the local and Chinese currencies to facilitate upcoming visits by Chinese tourists.
"Under the revision, each mainland tourist can convert Chinese yuan into Taiwanese dollar for up to 20,000 Taiwanese dollars (662 US dollars) and change the unspent amount back when he or she leaves Taiwan," said Lu Hsiu-yen of the Nationalist Party or Kuomintang.
She said with Chinese tourists expected to come to the island for sightseeing next month, the revision of the law was necessary to facilitate the exchange service.
But before Taiwan and China reach agreement on exchange clearance, full exchange service and trading would remain banned, she said.
Taiwan, which has barred direct visits by Chinese tourists since the two sides split at the end of a civil war in 1949, is to allow Chinese tourists to visit the island beginning July. (dpa)