Shanghai banks to begin China-Taiwan currency exchange operations

Move eases Taiwan visitors in Shanghai to convert their New Taiwan dollars to Chinese yuan.

Four more Chinese banks in Shanghai will open two-way New Taiwan dollar-Chinese yuan exchange services after the Bank of Communication spearheaded the exchanges April 26, China's Taiwan Affairs Office spokesman Yang Yi said Wednesday.

The banks are the Bank of China, the Industrial and Commercial Bank of China, the Shanghai Pudong Development Bank, and the Bank of Shanghai, according to a report in Focus Taiwan.

With all branch offices of the four banks set to begin the currency exchange services in the near future, the number of places in China's largest city where New Taiwan dollar-holders can buy Chinese yuan has increased by a significant degree, Yang said.

He added that the expanding network of banks providing currency exchanges will provide more convenience for Taiwanese visitors to the city.