Central Bank of China

PRESS RELEASE Release Date: Novermber 10, 2001




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Important Measures in October

In line with our policy of liberalization and internationalization, and for further development of foreign exchange business, the Central Bank of China has taken the following measures in October:

1. Approved Standard Chartered Bank Taipei branch to commence P.C. banking business involving foreign currencies.

2. Approved the following Authorized Banks to run the business of "Foreign Currency Trust Funds Earmarked for Investment in Foreign Securities":

(1)Entie Commercial Bank

(2)Ta Chong Commercial Bank

(3)Standard Chartered Bank Taichung Branch

(4)The Hongkong Shanghai Banking Corp.Ltd. Tien Mu Branch

3. Approved the following Authorized Banks to run derivatives business:

(1)SinoPac Commercial Bank operates"Foreign Equity Options"business.

(2)Fubon Commercial Bank operates "NTD/FCY Options"business.

(3)Chinatrust Commercial Bank operates"Foreign Currency Structured Deposits"business which includes Foreign Currency Time Deposits linked with Foreign Bonds and Notes.

3.Authorized 4 branches of 3 domestic banks to operate foreign exchange business. In addition, 13 non-authorized foreign exchange banks were approved to sell/buy foreign currency banknote and traveler's check. At the end of October, there were totally 975 authorized foreign banks, including 906 domestic banks and 69 foreign banks.