Promising discussions between the mainland and the isle

[img_assist|nid=7871|title=|desc=|link=none|align=left|width=100|height=80]Mainland China tourists will be given opportunity to use their China Unionpay ATM cards as debit cards in Taiwan. At present time talks are being held between Taiwan and China.

Eventually in the course of this action China’s currency, the renminbi or yuan is planned to be officially accepted in Taiwan on a widespread basis. This would be the first time since the Communists defeated the Nationalists in the Chinese civil war that ended in 1949, after which the Nationalists fled to Taiwan.

The ATM network Unionpay is controlled by the central bank and operates China’s bank payment system and the national network linking up automatic teller machines (ATMs). Over 30 countries accept China Unionpay cards which makes the network a competitor to Visa Inc. and MasterCard Inc.

Besides the China Unionpay network is planned to initially be available in Taiwan stores, hotels and other retail outlets where cards bearing its logo could be used as debit cards, according to a regulatory source in Taiwan who declined to be identified due to the political sensitivity of the situation.

The move is expected to contribute to the state’s goal to improve Taiwan's economy through closer business ties with China under the new administration of President Ma Ying-jeou, whose Nationalist Party favours better relations with Beijing.