According to the China Radio International’s (CRI) English service, the People’s Bank of China is to begin gradually replacing the one yuan banknote for a coin. In January, the Jinan branch of the People’s Bank of China announced that it will issue the one yuan coins instead of banknotes to commercial banks in five pilot…
According to online news sources, Zimbabwe has announced that it will make the Chinese yuan legal tender following confirmation that China would cancel $40 million in debts. During a statement by the country’s minister Patrick Chinamasa regarding the debt cancellation, it was advised that Zimbabwe would start using the Chinese yuan as it seeks to increase trade…
China’s Central Bank will issue an upgraded 100 yuan banknote from tomorrow, Thursday the 12th November 2015. Though the note looks very similar to its predecessor, it contains various security feature upgrades to help combat counterfeiting. The Bank states there are at least seven improvements to the note’s design which, it claims, will allow cash…
According to local news agencies, China will soon be releasing a new 100 yuan banknote. The People’s Bank of China, China’s Central Bank, is reportedly planning to release the new banknote in November this year. The new note will contain improved security features to help combat counterfeit banknotes circulating within the country, which has seen…
The People’s Bank of China has announced a 318% increase in mobile payment values in 2013 compared to 2012. It advised that 16.74bn mobile transactions with a value of 9.64tn Yuan (US$ 1.66tn) were processed during the period. Online payments made via computers grew by 28.9% year on year, totalling 1,061tn Yuan in 2013. Phone…
BTCChina, China’s biggest Bitcoin exchange, has stopped accepting deposits in Chinese yuan. According to the company, the People’s Bank of China has spoken to a number of payment processors in China asking them to stop trading with Bitcoin exchanges by January 1, 2014. The BTCChina website posted the following note yesterday: “Dear BTC China users:…