Taiwan protests name change in regional financial conference

Taiwan's central bank governor voiced regret and protest Saturday over the arbitrary change of the bank's membership name by the board of directors of a regional financial conference because of China's participation.

The Board of Governors of the Conference of Governors of South East Asian Central Banks (SEACEN) informed the Central Bank of the Republic of China (Taiwan) in a letter dated Jan. 25 that the Taiwanese central bank's name in the conference would hereafter be changed to "Central Bank, Chinese Taipei."

"We deeply regret and protest this arbitrary change, " said Perng Fai-nan, governor of the Central Bank of the Republic of China (Taiwan).

The bank joined the SEACEN under its full official title in 1992.

The SEACEN said in its letter that China's central bank -- the People's Bank of China -- had completed procedures to become the conference's 17th member earlier this year.

Against this backdrop, it went on, the designation of Taiwan's central bank at the conference would from now on be changed to "Central Bank, Chinese Taipei" in accordance with the model adopted at the Olympic Games and the Asia-Pacific Economic Cooperation forum.

Perng said the central bank had been pushing the SEACEN not to undermine Taiwan's membership rights and interests since it came to learn in early 2008 that the organization was seeking the People's Bank of China's participation.

The SEACEN Board of Governors assured a visiting official from Taiwan's central bank last November that the group's admission of China's central bank would not affect Taiwan's membership rights, Perng said.

ENDS

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