Central Bank of China Relaxes Controls on Foreign Exchange
The Central Bank of China has announced that, in accordance with the government's policy of economic liberalization and internationalization and with a view toward domestic financial stability, it will, upon ratification, further relax controls on foreign exchange for invisible trade.
The Central Bank indicated that details of the steps to relax controls would be drawn up and implemented within a month.
The term "invisible trade" includes-- .expenses related to imported goods besides cost;
.expenses and funds required to defray labor or business activities of personnel in transportation, insurance, or other industries;
.and expenses to support overseas family members of ROC or foreign citizens serving in agencies or enterprises within the ROC
ROC Establishes Express Postal Exchanges with Austria and Oman; Mail to Lebanon Temporarily Suspended
The Directorate General of Posts of the Ministry of Communications is establishing international express mail exchanges with the postal departments of Austria and Oman in order to expand its service to industry and businesses.
The Directorate General of Posts says that express mail sent from the ROC to any location in Austria will reach the recipient within four days of mailing and that mail sent to Muscat and Salalah in Oman will arrive in three days. Commercial documents, samples, or goods may all be sent.
In addition, because the United Arab Emirates has informed the ROC Directorate General of Posts that it temporarily lacks a route to forward airmail letters and parcels to Lebanon, the Directorate General of Posts has decided to suspend handling airmail services to Lebanon temporarily.
Limit on Currency Carried Into or Out of ROC Increased to NT$20,000
The Ministry of Economic Affairs has decided in principle to raise the limit on the amount of ROC currency that may be carried into or out of the country from NT$8,000 to NT$20,000. The limit pertaining to U.S. currency will remain at US$1,000 cash, but U.S. dollars in checks will not be subject to limitation.
This decision was based on current domestic and foreign economic and financial conditions.