China not planning larger denomination notes

According to an article in People’s Daily Online dated 12 March 2012, Hu Xiaolian, deputy governor of the People’s Bank of China, said that the central bank is not planning to issue larger denomination banknotes in the short term.

“We have noticed public complaints of inconvenience in bigger transactions…but we should consider all the pros and cons of the issue,” said Hu at a press conference on the sidelines of the country’s annual parliamentary session.

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