Geography of Taiwan its narrowest. Part of the continental shelf, the Strait is no more than deep, and has become a land bridge during glacial periods. To the south, the island of Taiwan is separated from the Philippine island of Luzon by the -wide Luzon Strait. The South China Sea lies to the southwest, the East China Sea to the north, and the Philippine Sea to the east. Smaller islands of the archipelago include the Penghu islands in the Taiwan Strait west of the main island, with an area of , the tiny islet of Xiaoliuqiu off the southwest coast, and Orchid Island
Central Bank of the Republic of China (Taiwan) bank in 1961, the Bank of Taiwan acted as the "de facto" central bank in Taiwan. On 8 November 1979, the newly revised Central Bank of China Act was promulgated. The Bank of Taiwan issued the New Taiwan dollar until 2000, when the Central Bank of China finally took over the task. In 2000 the English name of the Central Bank of China was renamed Central Bank of the Republic of China (Taiwan) along with a host of other renamings under the Chen Shui-bian administration of state-owned corporations with "China" in their name, such as the Chunghwa Post. The headquarters