Central Bank to Take Measures Against Counterfeiting

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Last updated at: (Beijing Time) Sunday, June 29, 2003

Central Bank to Take Measures Against Counterfeiting

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The People's Bank of China (PBC) issued Saturday regulations on seizure and verification of counterfeit currency, which will take effect in July 1, and will launch a nationwide publicity week on anti-counterfeiting from June 29 to July 5.

The rules stipulate the currency holders' rights and obligations for the sake of their interests and require the staff of the concerning financial institutions to avoid wrong seizure orverification which might bring losses to the currency holders.

Currency mentioned in the rules includes both Renminbi and foreign currencies, according to sources of the central bank.

The publicity activities this year aim at increasing public awareness of anti-counterfeiting note and helping people to identify counterfeit note through publicizing relevant laws and regulations, so as to crack down on the counterfeiting.

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