It seems that some articles from my diocese were cited here, so I thought I should give some context to them.
Pagan practices are generally not tolerated within the Church, as they permit and foster an understanding of the spiritual and divine that is incompatible with one true God. However, the Church recognises that not all outwardly ritual practices are necessarily religious in nature. As such, in seeking to expand the faith to the East, the Church has given allowances for Chinese to continue these cultural rites where it may be compatible with the Christian faith. This is especially so regarding rites of the dead as the Chinese place a particular emphasis on family ties and relationships, even extending to many generations prior. As such, there have been several decrees on this which seek to clarify as well as delineate what is or is not acceptable in the Christian understanding. The link Zekariya has provided covers most of the Church's declarations on this topic, so I shall not repeat them. However, the general principle observed is that it must be compatible with Church teaching, and must not give rise to nor admit superstitious practices that put God's supreme power into doubt. As such, only certain practices are allowed, while others are completely barred.
The article the OP cited was on guidelines of these practices as given under the canonical authority of the Chinese bishops for the Chinese. I can help to explain them:
*]Ancestral tablets inscribed with the name of the ancestor - This is similar to what gravestones or icons would do for the memorial of ancestors or saints, respectively.
*]Bows or prostrations before the tablets or coffins - Honouring the tablets as one would honour a gravestone, icon or even a photograph of a loved one, for that matter.
*]Placing fruits or other food before the tablets of the dead or before graves - Not something most Chinese Catholics actually do nowadays because of the likelihood of mistaking it as a pagan sacrifice, but the intention is similar to placing flowers on a grave.
*]No offering/burning of paper money - This is an explicit sacrifice in the Chinese understanding, and therefore it conflicts with the belief that the only such sacrifices may be offered to God, and this may only be properly done in the context of Mass. As such, it is completely prohibited.
However, one must realise that these guidelines were intended for the Chinese in Taiwan, and may or may not be followed by Chinese in other jurisdictions. The Church in the Philippines is not obligated to follow the same instructions and may have a different set of guidelines. As such, it is preferable that you consult your bishop
TL;DR: Taiwanese Catholics may not burn hell money according to the directives of the Taiwanese bishops. Variations in such practices in other jurisdictions need to be discussed with the appropriate bishop.