2016-05-17 Tue

China is soon going to replace 1-yuan notes with coins as per official announcements that were made in April. The change happened some time ago and the Chinese citizens don’t seem to miss the green one-yuan notes much. Since China was where paper money originated in the Tang Dynasty (618-907 AD), there are some sentiments attached to currency notes.

The use of coins was not very common in china and some believe that this change is to bridge the gap between the east and the west. Going forward, experts state that China would also introduce bigger denomination coins like five-yuan and 10-yuan.

Five cities in Shandong Province have begun a pilot program to phase out one yuan bills. The national roll-out will depend on the results of this pilot program. Those who are happy with the change believe that notes wear down quickly and become dirty unlike coins. Those who still prefer papermoney state that handling heavy coins is more cumbersome than keeping notes in wallets.

Sometimes resistance to such a change is difficult to deal with, but very soon people will be left with no other option.