A restaurant in Taiwan posts a sign on its door: "Renminbi is welcome." (File photo/Cheng Yi)
More and more Taiwanese businesses are accepting renminbi when dealing with Chinese customers although Taiwan's central bank still restricts transactions in the Chinese currency, reports our sister paper Want Daily.
Liu Keliang, an owner of a hostel in Sanyi in western Taiwan's Miaoli county, said that he has accepted renminbi as payment on several occasions. "The Taiwanese government often has lots of weird 'regulations' to restrict its own people. Not only Chinese visitors, we also accept foreign currencies from Japanese visitors, American visitors, etc. It just does not make sense to refuse cash or business," Liu said.
Most Chinese visitors would prefer to use cash, while most Taiwanese people would also prefer the option of accepting renminbi now that the currency continues to appreciate, he added.
According to current regulations, renminbi must be converted to New Taiwan dollars at related banks because of the central bank's strict controls on renminbi deals. Unauthorized renminbi will be confiscated by the authorities if discovered.
Liu Keliang 劉科良