BEIJING — The People’s Bank of China, the central bank, said on Nov 17 that it will enhance supervision on the circulation of a new version of 100-yuan banknote in use since Nov 12.
The new note, the largest denomination of the Chinese currency, is harder to counterfeit and easier for machines to read due to enhanced security features.
In the initial stage, some business owners are reluctant to accept this new banknote as they are not familiar with the counterfeit features.
The central bank said in a statement on its website that they can learn the new features of the note from its official website or commercial banks.
It will need some time to upgrade money detecting machines for all retailers, but the central bank will enhance supervision and provide assistance during the process, the statement said.