China to issue new 100 yuan note with more security features

BEIJING: China's central bank, the People's Bank of China (PBOC), today said it will start issuing a new 100-yuan bank note from November 12 that will be harder to counterfeit and easier for machines to read.

Part of the fifth set of bank notes introduced by the PBOC in 1999, it was last changed in 2005.

The new move comes in the backdrop of growing complaints of counterfeit notes being received specially from the ATMs.

The design of the new note will stay largely the same as the 2005 series but have enhanced security features, state-run Xinhua news agency reported.

The 100-yuan note is the largest denomination of the Chinese currency.

The old version of the 100-yuan note will stay in circulation following the new edition, the PBOC added.