China
China denies rumors of 500-yuan note
Jul 22, 2009 07:58 AM Category:
Asia
The Fuzhou Branch of the People’s Bank
of China denied rumors that a new 500-yuan (US$73.20) note will be
released by November 2009. Fueled by fears of inflation, rumors of
the new banknote have been floating around since 2006. Wei Guoqi, a
senior official at the People’s Bank of China, declared “it's not
true,” and stated that no formal notice about the introduction of
any new banknotes had been received. Images of the purported new
note bearing a portrait of Deng Xiaoping are considered a
hoax.
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China urged to issue larger banknotes
Mar 22, 2009 09:58 AM Category:
Asia
According to a ChinaDaily report dated March 10, 2009, Zhu Zhengfu,
a delegate from southern Guangdong province, proposed that China
should issue 500- and 1,000-yuan notes to spur domestic consumption
and protect the environment (currently the largest denomination in
China is the 100-yuan note, worth approximately US$14.65). The
suggestion was made at the 11th National Committee of the Chinese
People's Political Consultative Conference session in Beijing on
March 5, 2009. “People would have a stronger desire to spend with
more money in their wallets. Say when people have a 1,000 yuan note
instead of a 100 yuan note in your pocket, would they more likely
to buy things?” said Zhu. Meanwhile, printing larger value notes
saves more paper and benefit the environment, he noted. Zhengfu’s
suggestion has been met with a mixed response from citizens and
economists, with many publicly airing fears about the risk of
counterfeits and inflation.
© 2009: Images may be freely reproduced.
© 2009: Images may be freely reproduced.
China issues Olympics commemorative note
Sep 19, 2008 07:38 AM Category:
Asia
10 yuan (US$1.45), 2008. The PBOC introduced six million notes on 08.07.2008 to commemorate the Beijing Olympic Games. Cyan. Front: National Stadium (Bird’s Nest), games emblem, Temple of Heaven, and coat of arms. Back: Greek marble statue of discus-thrower, Discobolus; athletes (runners, high jumper, gymnast, soccer players). Watermark: 10 and “Games of XXIX Olympiad” in Chinese. 148.5 x 72 mm. Existing 10-yuan notes to continue circulating.
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