Authority
Based on Article 13、15 and 18 of the Central Bank of China Act, Regulations Governing the Issuance of New Taiwan Dollars by the Central Bank of China, Executive Yuan directive: Tai Tsai No.0930032086 dated 19th July 2004.

Description
I. Design and Specifications:
1. NT$1,000：
（1） Denomination: NT$1,000
（2） Dimensions: 160mm × 70mm
（3） Material: Paper
（4） Main Color: Blue
（5） Design:
Obverse: Displays the image of a group of primary school children. The intaglio printing reads “The Republic of China”, “The Central Bank of China”, “One Thousand Dollars ” and “1000”.
Reverse: The main picture shows two Mikado Pheasants. Yushan, the highest mountain in Taiwan, forms the background. Two separate illustrations depict sunrise and a thistle, respectively.
2. NT$500： 
（1） Denomination: NT$500
（2） Dimensions: 155mm × 70mm
（3） Material: Paper
（4） Main Color: Dark Brown
（5） Design:
Obverse: Displays the image of a group of baseball players. The intaglio printing reads “The Republic of China”, “The Central Bank of China”, “Five Hundred Dollars ” and “500”.
Reverse: The main picture shows a herd of Formosan Sika Deer. Mount Dabajian and bamboos form the background. 

II. The new banknotes both have an optical variable device on the right-hand side on the front, an optical variable window thread on the back, and the numerical figures on the upper left-hand side are printed with optical variable ink.

III. The new banknotes are printed by the Central Engraving and Printing Plant. The engraving was made in 2004. 

IV. The new banknotes will be circulated simultaneously in Taiwan, Kinmen and Matsu region.

V. The existing NT$1,000 (engraved at 1999) and NT$500 (engraved at 2000) notes, will remain in circulation until 31st July 2007. After 31st July 2007, all branches of the Bank of Taiwan will redeem previous issues of NT$1,000 and NT$500, even when they are not legal tender.