
Starting from Nov. 12, China will release a new version of the 100-yuan bill, which will bear a golden "100" and adopt advanced anti-counterfeit technology, according to the People's Bank of China (PBOC) in a statement on Monday.
The "100" on the new bill will appear golden from certain angles and serve as an anti-counterfeit measure. It has also earned the note a nickname, "Tuhao Jin," which means "uncouth rich gold."
Six other anti-counterfeit features have also been introduced, including lining, coding, hand-feeling, and a special head portrait of Chairman Mao.
Once released, the new bills will circulate equally with older notes.
The major reason for the release is to fight counterfeiting. From 2012 to 2014, China confiscated fake money of 329 million, 415 million and 532 million yuan each year, respectively, marking consecutive increase rates of more than 25 percent.
In addition, the rapid development of automatic vendor and cash-processing devices also calls for a safer currency, according to the PBC.
Professor Xiao Bo of Fudan University said there is no need to worry about over-issuing. China has not upgraded the yuan since 2005 and has been highly careful when it comes to currency release.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor