Central Bank denies the issuing of 500-yuan RMB note

The design of a 500-yuan RMB note put online, which is said to be issued next year by Central Bank, has greatly aroused public attention recently. The Central Bank made clear that it is a sheer rumour and Central Bank has no plan to issue the 500-yuan RMB note in the near future.

It is easy to find the allegedly soon-be-to-issued counterfeit 500-yuan RMB note on many web pages. Over the front of the cream-coloured note are the simplified characters of "People's Bank of China", and a portrait of Deng Xiaopin to its right. There is also the mark of "Deng Xiaopin 1904 - 1997" below the portrait. The back of the note is a landscape painting.

Expert noted that the netizen probably published the counterfeit 500-yuan RMB note online just for fun. However, this action has violated relevant law.

An official with Central Bank said that Central Bank does not plan to issue RMB notes of large denominations. Experts explained that the China's currency structure now is reasonable and suited to the country's economic environment. On the contrary, the issuing of such notes will raise the unnecessary guess over inflation, which requires cautious attention.

It is said that Central Bank will not issue the sixth set of Renminbi in the near future.

By People's Daily Online