The Royal Bank of Canada has become the first financial institution to appease China in its political crackdown on Taiwan

• 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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