3.A license to print money
First generation
The first series of renminbi ("people's currency") banknotes was issued by the newly founded People's Bank of China on Dec 1, 1948. The notes were issued in 12 denominations: 1, 5, 10, 20, 50, 100, 200, 500, 1,000, 5,000, 10,000 and 50,000 yuan. The 62 different designs carried agricultural and industrial scenes featuring workers and peasants. |