Central Bank Denies Plan to Release 500 Yuan Note

By Zhou Yuning
Published: 2009-07-17

The Fuzhou Branch of the People’s Bank of China strenously denied rumors that a new 500 yuan bank note will be released in November this year.

Rumors of the new bank note, which were encouraged by fears of inflation, first appeared on a Fuzhou-based website. The netizen who pasted the news claimed that the new note also added an image of the purported new note, bearing a portrait of Deng Xiaoping, to the website.

Wei Guoqi, a senior official at the People’s Bank of China, declared “it's not true,”going?on to reveal that no formal notice about introduction of?any new bank notes had been received.

Links and Sources
www.ce.cn: 银行表示:发行"500元面值人民币"是谣言