Royal Bank of Canada has changed its description of Taiwan from a country to a province of China.
It appears to be the first financial institution to make the change this year amid China’s political crackdown on how foreign companies describe its disputed territories.
The change occurred just two weeks after Air Canada made a similar change after receiving a letter from China’s Civil Aviation Authority.
The Royal Bank of Canada has become the latest foreign company to change its description of Taiwan from a country to a province of China.
Bank customers who want to send payments to Taiwan will reportedly find the self-ruled island is described as “Taiwan (Province of China),” according to The Star Vancouver.See the rest of the story at Business Insider
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