Date
20 October 2017

PBoC to replace small-denomination bills with coins, Xinhua says

The People’s Bank of China will soon launch an exchange network to gradually remove from circulation notes in small denominations, especially those with face value under one yuan (16 US cents), and encourage the use of coins, Xinhua news agency reported Tuesday. The central bank wants wider use of coins for small transactions because they last longer and are easier to handle and count, unlike notes which are more prone to wear and tear, the report said.

– Contact HKEJ [email protected]

TL/AC/CG

 

 

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