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College of Tourism
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More and more businesses willing to accept Chinese yuan (2014/02/19)

More and more businesses willing to accept Chinese yuan (2014/02/19)

Chinese yuan are accepted at a growing number of places in Taiwan. From souvenir shops to night markets, the yuan can be used in many of the same places that Chinese tourists are known to frequent.

Tourists exchange Chinese yuan as they check into their hotel. This convenience carries over into tourist shops which have begun to accept yuan payments.

For example, you can pay for stinky tofu on Shenkeng Old Street with yuan.

Chinese Tourist
You can use yuan in Hong Kong, so you should be able to use it in Taiwan, too.

Yuan is accepted in craft shops and for purchases made on tour buses.

The emergence of yuan as a payment option in Taiwan benefits Chinese tourists, who enjoy the convenience, and Taiwanese merchants, who turn a profit exchanging yuan at the bank. Some merchants leave their earnings in yuan-denominated accounts, which tend to pay higher interest.

Last month there were savings of over 210 billion yuan in Taiwan bank accounts. With preferential interest rates reaching 3 percent or more, it’s no wonder that Taiwan’s tourism industry has opened its arms to the yuan.


 

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