PBOC to issue new edition of fifth RMB series starting Aug. 30

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New 50-, 20-, 10- and one-yuan banknotes and coins of one yuan, five and one jiao (0.5 and 0.1 yuan respectively) will be released by the central bank with improved anti-counterfeiting features on August 30, the PBOC said Monday.

This will be the third edition of the fifth series of renminbi, which was introduced by the People's Bank of China (PBOC) in 1999 for 50-, 20-, 10- and one-yuan banknotes and one jiao (0.1 yuan) coins, whose second edition was issued in 2005. This is the first upgrade of the one-yuan banknotes and coins and five jiao (0.5 yuan) coins since 1999.

Another two parts of the fifth series are the 100-yuan banknote, which was first changed in 2005 and last changed in 2015, and the five-yuan banknote, which was not upgraded this time as it is used to study how to further promote anti-counterfeiting ability and extend the service life of renminbi due to its smaller denomination and circulation, according to the PBOC.

How is the anti-counterfeiting ability improved?

Color-changing ink will be applied to the pattern of the number in the center of the new bills to make it more difficult to counterfeit. For instance, the color of the numeral "50" will change between green and blue and a band of light can be seen to roll up and down when the angle is adjusted.

Other new features of these three kinds of notes include a security line on the right of the bill, which will change from hot pink to green with a bright band rolling up and down when the viewing angle is adjusted, and where "¥50", "¥20" as well as "¥10" can be respectively seen in the light.

As for the coin, a "¥" and "1" are hidden in the numeral "1" at the front of the new 1-yuan coin, which may be respectively seen from specific angles when spinning the coin.

What's the major change?

To be more portable, the diameter of the new one-yuan coin has been narrowed to 22.25 mm, 2.75 mm less than before with dots ringing the inner edge on the front.

There are six serrated segments, equally distributed around the edge of the new five-jiao coin, each of which contains eight isometric serrations with the coin's color becoming nickel instead of golden yellow inside, and the inner edge of the coin is changed into a polygon from circle, making it more identifiable to people with poor eyesight.

All four new bank notes will feature additional decorative patterns on the left-hand side and the tactile lines on the right have been removed.

Zhang Meng, deputy head of PBOC's Currency, Gold and Silver Bureau, told CGTN that with major elements have remained unchanged from the previous version, and this new issuance strikes a balance between security, durability and elegance.

He also added that the central bank would collaborate with other ministries to ensure a smooth transition that help residents and vendors get used to the new currency.

The bank said it has already arranged for financial institutions to do the preparatory work, including upgrading the existing currency detectors to verify authenticity.

Some netizens, however, have pointed out that mobile payments have become so ubiquitous that it's actually going to be hard to find the new notes and coins.

(CGTN's Wu Zheyu also contributed to the story.)