Mon, Dec 29, 2003 - Page 10 News List

Fewer bad checks written

CNA , TAIPEI

The number and value of bad checks last month dropped from the October levels as a result of an improved domestic economy, a spokesman for Taiwan's Central Bank of China (CBC) said Friday.

ONLY 0.42 PERCENT

More than 10.21 million checks with a total value of about NT$2.801 trillion (US$82.38 billion) were drawn last month, 43,247 checks of which, or 0.42 percent of the total, were bad checks with a value of some NT$8.4 billion, according to the spokesman.

Compared with the October levels, checks issued last month were down by 26.3 percent and 15.69 percent in terms of total number and value, respectively, while bad checks also fell by 0.01 percentage points and 0.02 percentage points in number and value, the CBC official elaborated.

The official attributed the decreases to a better economic situation at home over the past few months on the grounds that a four-color economic gauge published by the Cabinet-level Council for Economic Planning and Development has continued to flash green uninterrupted since July.

FINANCIAL MANAGEMENT

It is an indication that the improved economic situation has helped individuals and companies better manage their money and capital, he noted.

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