Reporters' Log

Central bank intensifies fight against fake money

By (Xinhua)
Updated: 2009-03-06 14:51

Chinese central bank governor said in Beijing on Friday that intensified fight against fake money will continue as it was a long-term problem plagued the country, though counterfeit ones were "only in a small amount."

"The central bank's technologies to detect fake currencies are very high, and can easily detect fake banknotes," said Zhou Xiaochuan, governor of the People's Bank of China, on the sidelines of the annual full session of the parliament which opened on Thursday.

"Counterfeiters seeking profits usually use low-quality faking means," said Zhou, adding public education was required to help detect fake currencies.

Fake 100-yuan notes, most starting with the serial number "HD90," have been reported in more than ten Chinese provinces and cities since the end of last year.

The case has aroused public attention with reports saying the quality of some fake banknotes is so high that they can even cheat low-quality counterfeit money detectors.

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