Central Banking

PBOC to change currency design

China's central bank said it will adopt a new design for its currency note, the yuan, to reduce counterfeiting of the new edition of notes which will start circulation on Wednesday 31 August.

The State Council has approved the issue of the new notes in 100 yuan, 50 yuan, 20 yuan, 10 yuan and five yuan denominations and coins with a value of 0.1 yuan, the People's Bank of China (PBOC) said in a statement on its website.

China has had a serious problem with counterfeiting of its currency, despit

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