The Telegraph has an article this week about the new Chinese banknotes. -Editor
China's new 100-yuan banknote, acclaimed by authorities as bearing high-tech features that make it harder to forge, is being
rejected by cash machines, according to reports.
The red note, emblazoned with a portrait of Communist China's founder Mao Zedong, is worth just over £10 and remains the highest
denomination available in the country.
It went into circulation Thursday and has been dubbed the "high-roller gold" for the colour of its main "100".
It has more security features than previous notes, the government said, to make it "easier for machines to read" and
"more convenient for the public to distinguish authentic notes from fake ones".
But some banks' automatic teller machines (ATMs) would not accept the new money when people tried to deposit it, reported the East
Asia Economic and Trade News in the northeastern city of Changchun. A bank executive said it will take several days for all ATMs to be
"upgraded" to recognise the new note, it said.
Machine upgrades are part of business in dealing with banknotes, but the editors couldn't resist adding the subtitle, "The
high-tech currency appears to be so sophisticated that it's setting off counterfeit detection machines" -Editor
To read the complete article, see:
machines reject new 'high roller gold' Chinese banknotes
Wayne Homren, Editor
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