China begins replacing one yuan banknote with coin

Banknotes, Coin, News

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…

China banknotes 100 yuan

Zimbabwe makes Chinese yuan legal currency

Currency, News

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 100 banknote 2015

China upgrades 100 yuan banknote

Banknotes, News

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…

China 100 banknote 2015

China to issue new 100 yuan banknote

Banknotes, News

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…

Bitcoin Value Sinks Amid China Restrictions

Cashless Payments, News, Technology

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:…