Central Bank of China
PRESS RELEASE Release Date: August 4, 2001




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Important Measures in July

For further liberalization,internationalization and development in foreign exchange business, the Central Bank of China has taken the following measures in July:

1. To approve Chang Hwa Commercial Bank, United World Chinese Commercial Bank, Asia Pacific Bank to operate Internet Banking business involving foreign currencies.

2. To approve Taishin International Bank to operate Phone Banking business involving foreign currencies.

3. To approve the following Authorized Banks to run derivatives business:

(1)Bank SinoPac operates "Foreign Currency Structured Deposits"business which includes Foreign Currency Deposits linked with Foreign Equity Options.

(2)UBS AG Taipei Branch operates "NT Dollar Structured Deposits or Foreign Currency Structured Deposits"business which includes NT Dollar Deposits or Foreign Currency Deposits linked with Foreign Equity Options.

(3)BaoDao Commercial Bank Ltd., operates "NTD/FCY Options"business.

(4)Ta Chong Bank Ltd., operates "Foreign Currency Structured Deposits "business which includes Foreign Currency Deposits linked with Foreign Currency Option.

4.To authorize 3 branches of 2 domestic banks and 1 foreign bank to operate foreign exchange business. In addition, 15 non-authorized foreign exchange banks were approved to sell/buy foreign currency banknote and traveler's check. At the end of July, there were totally 970 authorized foreign banks, including 900 domestic banks and 70 foreign banks.