China Issued the Unprecedented Commemorative Banknote to Celebrate the Year of the Dragon

China's central bank has issued a commemorative banknote of 20 yuan to celebrate the Year of the Dragon. It is printed on polymer, and its issuance began on December 15, 2023. 

The special thing about this commemorative banknote is the use of polymer, which is a thin and flexible plastic film with more durability and anti-counterfeiting functionality than paper banknotes. So, let's look in detail at this new commemorative polymer banknote and talk about the reasons behind the growing use of polymer banknotes.

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The Dimensions of the Commemorative Polymer Banknote

The commemorative polymer banknote has a face value of 20 yuan. It includes the elements of the Year of the Dragon, such as the dragon shape and children performing a dragon dance. Its dimensions are:

  • Length: 145 mm
  • Width: 70 mm

The People's Bank of China (central bank) will issue a total of 100 million commemorative banknotes with a limit of 20 pieces per person. Overall, it is China's first zodiac polymer commemorative banknote. 

A Quick Look at the History of Polymer Banknotes

The first polymer banknote was developed by the Reserve Bank of Australia and CSIRO (Commonwealth Scientific and Industrial Research Organization). Australia was the first country to bring polymer banknotes into circulation in 1988. Fast forward to today, there are over 45 countries using polymer banknotes. However, a limited number of countries can self-develop and manufacture polymer banknotes, and China is one of them.

In 2021, China issued the first self-developed polymer commemorative banknote to celebrate the 2022 Winter Olympic Games, making China the world's third nation that can develop and manufacture its own polymer banknote. 

Pros of Polymer Banknote Compared to Paper Money

Polymer banknotes are considered a better alternative to traditional paper money. The below pros/benefits of the polymer banknote will validate this point:

  • Long Lifespan: It has a longer lifespan due to the high durability of the polymer.
  • Waterproof: It is water resistant, so rain or humidity doesn't damage it.
  • Dirtproof: Its smooth surface is less susceptible to dirt and can easily be cleaned.
  • Hard to Counterfeit: It can include high-tech security features, like holograms, transparent windows, microprinting, etc.
  • Eco-friendly: It is recyclable, making it an eco-friendly cash currency. Also with longer lifespan, polymer banknote is more reusable and has longer circulation term, lessening the material waste.

All the above pros of polymer banknotes are what we miss with paper banknotes. That's why countries are gradually shifting to polymer banknotes and reducing the use of paper banknotes. 

Weifu – The Provider of China's Polymer Banknote BOPP Base Film

Polymer banknotes are made of a special type of plastic called Biaxially Oriented Polypropylene (BOPP). BOPP base film provides more durability, toughness, and high resistance to water, soil, folding, and more.

Weifu, one of China's leading BOPP film manufacturers, is also the one and only provider of China's polymer banknote BOPP base film. Weifu has cooperated with the Chinese Academy of Sciences and successfully developed this exciting Year of the Dragon commemorative banknote. In the past, Weifu has also provided the BOPP base film for the Beijing 2022 Olympic Winter Games Commemorative Banknote, which remarkably represents as China’s very first self-developed polymer banknote.

Weifu provides a wide range of BOPP films, including PCR BOPP plain/label film, hologram film, anti-fog film, heat sealing film, and more, which can be customized for your business.

Maintenance Tips for the Valuable Commemorative Banknote

Once you have purchased the commemorative banknote, below are a few important maintenance tips you should keep in mind:

  1. Do not bend the plastic banknote.
  2. Do not bring it close to fire or high-temperature objects.
  3. Store it in a dry place, as the exposure to moisture may fade the ink.
  4. Avoid cleaning it with solvents or chemicals.

In short, plastic banknotes have a longer lifespan and durability than paper banknotes, but they still require care and proper handling to preserve their appearance over time.