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Updated January 10th, 2024 at 13:14 IST

China Issues 2024 New Year Commemorative Coins, Banknotes | SEE PICS

On Tuesday, Jan. 9, 2024, the Industrial and Commercial Bank of China (ICBC) showcased the commemorative coins for the 2024 New Year at a branch in Guiyang.

Manasvi Asthana
Pre-order rush for 2024 New Year commemoratives in China
Pre-order rush for 2024 New Year commemoratives in China | Image:AP
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As the Chinese New Year of the Loong (dragon), approaches, pre-orders for China's 2024 New Year commemorative coins and banknotes opened on Jan. 3 at 10 PM Beijing Time. On Tuesday, Jan. 9, 2024, the Industrial and Commercial Bank of China (ICBC) showcased the commemorative coins for the 2024 New Year at a branch in Guiyang, located in the southern province of Guizhou.

Feedback from netizens indicates that the web pages of several banks experienced high traffic, leading to issues such as inaccessibility, lag, delayed delivery of verification codes and more. Screenshots shared by netizens reveal server unresponsiveness problems in several bank systems.

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Symbolic design of 2024 New Year Commemorative coins

The 2024 New Year commemorative coins, with a face value of 10 yuan ($1.4), a total issuance of 120 million pieces and made of bimetallic copper alloy, depict a loong on the reverse side. The image combines traditional Chinese paper-cutting art with New Year elements, accompanied by flower lanterns and lingzhi a mushroom symbolizing good fortune and auspiciousness in China.

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Symbolic design of 2024 New Year Commemorative banknotes

The 2024 New Year commemorative banknotes, having a face value of 20 yuan ($2.8), a total issuance of 100 million notes, and made of plastic, feature a loong-shaped pattern on the front side. The reverse side depicts a child dancing with a loong lantern, complemented by decorative patterns of traditional Beijing quadrangle courtyards.

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Both the commemorative coins and banknotes will serve the same functions as the current notes and coins in circulation with corresponding face values. Redemption at banks is possible from Jan. 9 to Jan. 15.

The 2024 Year of the Loong commemorative banknotes mark the 7th issuance by the People's Bank of China and the second commemorative banknote for the Year of the Loong.

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Notably, on second-hand trading platforms, the prices of sets of Year of the Loong commemorative coins and banknotes are currently increasing.

 

 

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Published January 10th, 2024 at 13:14 IST

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