China seizes fake bank notes worth of US$51 mln

China's central bank said Tuesday that it seized fake bank notes worth 338 million yuan (51.2 million U.S. dollars) in 2010, 46 percent less than a year ago.

Of the total fake bills, 100 yuan bank notes took up 71.5 percent, and the 10 yuan notes accounted for 11.4 percent. A total of 5.74 million yuan of fake coins were napped, down 52 percent year on year, said Ma Delun, deputy governor of the People's Bank of China (PBOC).

The circulation of fake bank notes dropped remarkably in 2010, Ma said at an anti-fake money exhibition held in Beijing.


Comments

Post a Comment

Popular posts from this blog

Dreams in the box

Image
December 5, 2010, 11:53 pm Sunday night, Leilei was looking for some clothes at home and suddenly stopped her search. Leilei was born in the summer of 1983. From a small town in southern China, 9 years ago she was admitted into a very famous engineering university in Beijing, 5 years ago she started her masters program and 3 years ago she started working. Currently, according to statistics Leileis income is in the top 12 percent of Beijing. (family back home) How much money does your Leilei make? Aiya only about 10,000 yuan. Wow, so much! Leilei works at Beijing 3.5 Huan, she takes bus plus subway to work, needs about 1 hour and 13 minutes and costs 2.4 yuan. Leilei often withdraws money after work at the company south gate, average time waiting in line for the ATM is 3.5 minutes. There is never any line for the next door China Bank ATM. That one charges you 2 yuan processing fee. Leilei rents a one bedroom apartment for 2500 yuan a month. The lease is up next month and the landlord ...
Keep reading

China demands US protects investors

BEIJING/TOKYO - China told Washington on Tuesday to protect investors in its debt after Standard & Poor's threatened to lower its credit rating on the United States.S&P slapped a negative outlook on the United States' top-notch AAA credit rating on Monday and said there was at least a one-in-three chance it could cut it eventually unless warring politicians found a way to slash a yawning budget deficit within two years.If investors start demanding higher returns for holding riskier US debt, the rise in bond yields could erode the value of Treasuries held in currency reserves and push borrowing costs up, putting the global economic recovery in jeopardy."We hope the US government will take responsible policies and measures to safeguard investors' interests," the Chinese foreign ministry said in a statement.China's foreign exchange reserves, the world's biggest, rose by nearly $200 billion in the first quarter to $3.05 trillion. About two-thirds are e...
Keep reading

China sets up orphan database

BEIJING - China launched a database to compile nationwide information about orphans on Saturday, as the country aims to ensure welfare services, especially the timely payment of basic living expenses for orphans.According to the Ministry of Civil Affairs, the database, which would contain information such as photos and identification details, could help compile precise statistics on orphans across the country.The database also makes monitoring the distribution of living allowances paid to orphans more convenient, thereby maintaining fairness and accuracy in welfare coverage.The country's child welfare services would try to cover all children in need, said Dou Yupei, the Vice-Minister of Civil Affairs.
Keep reading