New extra-secure 100 yuan banknotes go into circulation in China

A new ¥100 note was put into circulation in China on Thursday. The new note incorporates security enhancements, such as colour-changing ink on the number 100, an extra serial number and uneven picture patterns, which the People’s Bank of China hopes will deter forgeries.

Counterfeit currency is a major problem in China, where in 2014 police confiscated more than 500 million yuan (US$85 million) in forged banknotes. The bill still retains its iconic portrait of Mao Zedong, who features on all Chinese banknotes. Read more: wsj.com