...China - 50 Yuan Dated 2018 The People's Bank of China 70th Year Anniversary 1948-2018

中华人民共和国

Zhōnghuá Rénmín Gònghéguó

People's Republic of China

中国人民银行 / Zhōngguó Rénmín Yínháng / People's Bank of China

This is the fifth commemorative note issued by the People's Bank of China since its inception in 1948. This note celebrates the 70th year of issuance of banknotes by the People's Bank of China. The People's Bank of China is the central bank of China and was established on 01.12.1948 even before the formation of the Chinese People's Republic (established on 01.10.1949). The bank was created following the consolidation of three banks, namely Beihai Bank, Huabei Bank and Xibei Farmer Bank. Like all central banks around the world, the bank is responsible for carrying out monetary policy and regulation of financial institutions in China. Since its inception in 1948, the People's Bank of China has been the only institution issuing banknotes for circulation in the country.

The face value of this new issue is 50 yuan. The Chinese currency yuan literally means round (as in a coin) and a total of 120 million pieces are issued to celebrate this special occasion. This issue is far less than the previous Aerospace Science and Technology Commemorative of 100 Yuan where 300 million pieces were issued. Coins are also minted for this celebration.

The Design
Front - The main design of this note is a tree ring shape featuring parts of the design of banknotes issued from the first to the fifth series since 1948. Other features are the National emblem on the top left corner and the commemorative text of "The 70th Anniversary of Renminbi Issuance 1948-2918". The word Renminbi means People's currency.

Back - The People's Bank of China HQ building in Beijing and it's former old building, National flower Plum blossom. in the background, it also features the silhouette of the city buildings. The year date of 2018 is also printed on the note.

Watermark: the Great Wall of China.

This note was released in stages, with the first batch made available to the public on 28.12.2018. All notes are issued at face value.

Fifty Yuan

Dated 2018

Reverse

 

Footnote:

In my opinion, this design is much better looking than those previous 4 commemorative notes issued since 1999.

1999 - 50 Yuan 50th Anniversary of the Chinese Revolution;

2000 - 100 Yuan Millennium 2000 Year (polymer);

2008 - 10 Yuan Beijing Olympic Games; and

2015 - 100 Yuan Aerospace Science and Technology Commemorative.

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