Author Topic: Pilot Project in East China Replaces One Yuan Banknote with Coin  (Read 510 times)

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Offline Bimat

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One Yuan Note to be Replaced with Coin in East China

2016-03-12
17:20:32 CRIENGLISH.com
Web Editor: Huang Yue

Five pilot cities in Shandong province gradually take the one yuan banknotes out of circulation and replace them with one yuan coins.

Five pilot cities in east China's Shandong province will gradually take the one yuan banknotes out of circulation and replace them with one yuan coins, according to a Shandong-based newspaper.

People's Bank of China Jinan Branch in January announced that it will stop issuing one yuan banknotes to commercial banks in five pilot cities in Shandong. Till now, the project has been carried out in succession in the pilot cities.

The one yuan banknotes in the five cities will be gradually removed from circulation as disused paper money.

It is reported that according to the previous experience on taking two yuan, one jiao (one yuan is divided into ten jiao) and five jiao notes out of circulation, the remove of one yuan banknotes will take a long transitional period during which the one yuan notes can still be normally used.

Source: CRI English
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Offline augsburger

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Re: Pilot Project in East China Replaces One Yuan Banknote with Coin
« Reply #1 on: March 15, 2016, 02:54:01 AM »
I'm in Chengdu, not in the East, and unless I go to the Subway and use the machines, I'll almost never get 1 yuan coins. However the 1 jiao notes are becoming scarce now here, and the coins, mostly dated 2011 and 2014 are all over the place.

Offline quaziright

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Re: Pilot Project in East China Replaces One Yuan Banknote with Coin
« Reply #2 on: March 15, 2016, 03:00:21 AM »
In Beijing, I didn't find any shortage of 1yuan coins during my week there last year