Paper Money

China celebrates renminbi with commemorative note

The People’s Bank of China will issue a 50-yuan bank note to commemorate the 70th anniversary of renminbi, bank officials said Nov. 23. Renminbi is the official name of the currency of the People’s Republic and translates as “people’s money,” but as Brookings Institute Press explains, “The yuan is the name of the unit in which renminbi transactions are denominated, but also refers to the currency generally.”

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The commemorative bank note, measuring 150 by 70 millimeters, is the same size as the regular issue. A first batch will be released nationally on Dec. 28, to be followed by additional notes to be released on Jan. 11 in selected provinces, identified by a bank press statement as including Liaoning, Jilin, Heilongjiang, Jiangsu, Shandong, Hubei and Guangdong. A total of 120 million notes will be printed.

The face of the predominantly yellow and red note features tree rings and patterns taken from each series of renminbi from the first to the fifth. The National Emblem of the People’s Republic of China and the Chinese title of The People’s Bank of China are at the top left, with characters translating to “The 70th Anniversary of Renminbi Issuance” and 1948–2018 below. 

The back features the headquarters building of the PBC as the main pattern, with peony flowers, the site of the old PBC building and the announcement of the issue of the first series of renminbi bank notes at the top right, with a silhouette of city buildings below. At the top left, in addition to the denomination 50, “The People’s Bank of China” appears in the Pinyin alphabet, and the words translating to “The People’s Bank of China” as well as the denomination, appear in the Mongolian, Tibetan, Uyghur, and Zhuang languages. The governor’s stamp and 2018 are at the bottom. 

Security features include a thread of ancient cash coins and the denomination shifting from gold to green when tilted, and a watermark with an image of the Great Wall. Intaglio printing is used for the National Emblem of the PRC, the title of the bank, the main image, the numerals of the face value, and a Braille device on the face. 

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