The Beauty of Chinese Banknotes

Cash is vanishing

China is a pioneer on the way to a cashless society. In 2020 (maybe boosted by COVID-19), virtual payment methods have become almost universal in China. For the average customer this promises easy and quick ways to pay. In combination with self-checkout supermarkets and the greatest online shopping experience on the planet, China shows the way.

Already, cash and banknotes have almost gone the way of the dinosaur in China. Yet one thing, that most won´t think about, will be gone too. Many countries have beautiful pictures on their bank notes. While Europe uses its paper money to showcase important buildings and iconographic symbols of Europe, China emphasizes its beautiful nature, some iconic buildings, and the diversity of its people.

Renminbi — People´s money

The banknotes that we use these days, if we still use them, have been in circulation for over 20 years. They have been refined and changed slightly, but their basic design has been the same since 1999. The latest version came out in 2019 in the form of 50 Yuan, 20 Yuan, 10 Yuan, and 1 Yuan. 1 Yuan coins are available as well. Additionally, you can sometimes find the almost worthless 5 Jiao, 2 Jiao and 1 Jiao banknotes or coins, that have a value of mere cents. The even smaller Fen has practically no value whatsoever.

While you might know the name Yuan (元、圆), the official denomination for the Chinese currency is Renminbi, which means People´s money. Colloquially however, Yuan or…