25 August 2019

Taiwan eyes 500 bln yuan in RMB deposits by 2015, paper says

Renminbi deposits in Taiwan may reach 500 billion yuan (US$80.73 billion) by early 2015 amid rising demand for the Chinese currency among households, the Economic Daily News reported Wednesday, citing a survey conducted March 1-7 by Cathay Financial Holding Co. Ltd. Currently, one out of five residents on the island holds a renminbi deposit account, with 12.2 percent of them holding less than 5 percent of their total assets in the currency and 3.3 percent holding over 10 percent, according to the survey. About 22.4 percent of the respondents said they will allocate up to 5 percent of their assets in renminbi in the future while 2.6 percent would allot 5-10 percent, the survey showed.

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