Yuan deposits hit US$40.2bn
Chinese-yuan denominated deposits in the nation’s banking system reached 247 billion yuan (US$40.2 billion) as of the end of last month, setting a new high, the central bank said on Friday last week. The yuan-denominated deposits in domestic banking units (DBUs) amounted to 192.5 billion yuan as of the end of last month, while yuan deposits in offshore banking units reached 54.4 billion yuan, the central bank said. According to the bank’s January data, yuan-denominated deposits in DBUs accounted for 24 percent of the nation’s foreign currency deposits, about the same proportion as in Hong Kong.
Shih Mu-piao to head forum
Chunghwa Telecom Co (中華電信) president Shih Mu-piao (石木標) has been elected the chairman of the Taiwan Digital Publishing Forum, the local publishing organization said in a statement yesterday. Shih took over the position from Cite Media Holding Group (城邦媒體集團) chief executive officer Ho Fei-peng (何飛鵬), who will serve as the forum’s vice chairman. Shih has promised to improve communication between the forum and the government, and to invest Chunghwa Telecom’s resources in the forum to facilitate its operations, according to the statement. The forum was established in 2008 to promote digital publishing and the e-book business in the country.