Geography of Taiwan Geography of Taiwan Taiwan, formerly known as Formosa, is an island in East Asia; located some off the southeastern coast of mainland China across the Taiwan Strait. It has an area of , which includes other nearby islands such as Penghu (). The East China Sea lies to the north, the Philippine Sea to the east, the Luzon Strait directly to the south and the South China Sea to the southwest. The island makes up 99% of the current territory of the Republic of China, which is also known as "Taiwan". Taiwan is a tilted fault block, characterized by the
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