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The Chinese yuan will become one of the most important currencies within the coming decades. With its fast growing economy, China's is a market full of business opportunities. This site gives insight in the Chinese economy and business etiquette, and China's history and language.

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Economy of Taiwan

Article (source: Wikipedia)

Taiwan has a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by the government. In keeping with this trend, some large government-owned banks and industrial firms are being privatized. Real growth in GDP has averaged about 8% during the past three decades. Exports have grown even faster and have provided the primary impetus for industrialization. Inflation and unemployment are low; the trade surplus is substantial; and foreign reserves are the world's third largest. Agriculture contributes 3% to GDP, down from 35% in 1952. Traditional labor-intensive industries are steadily being moved off-shore and replaced with more capital- and technology-intensive industries. Taiwan has become a major investor in the People's Republic of China, Thailand, Indonesia, the Philippines, Malaysia and Vietnam. The tightening of labor markets has led to an influx of foreign workers, both legal and illegal. Due to its conservative financial approach and its entrepreneurial strengths, Taiwan suffered little from the Asian financial crisis in 1997-1999, compared with many of its neighbours.



Central Bank of the Republic of China (Taiwan)

Article (source: Wikipedia)

The Central Bank of the Republic of China (Taiwan) is the central bank of the Republic of China (Taiwan). It should not be confused with the Bank of China or People's Bank of China of the People's Republic of China on the Chinese mainland. The bank was called the Central Bank of China in English from its founding until February 10, 2007, when it took on its current name, though the Chinese name remains unchanged. The bank is governed under the Executive Yuan.

The bank was established under Sun Yat-sen's administration in Guangzhou in 1924. After the loss of the mainland in the Chinese Civil War by the Kuomintang and its subsequent retreat to Taiwan in 1949, the Central Bank of China also moved along with the government to Taiwan. However, until the Central Bank of China was re-established in 1961, the Bank of Taiwan acted as a de facto central bank. The Bank of Taiwan also issued the New Taiwan dollar until 2000, when the Central Bank of China finally took over.