Central Bank: no issue large bills currency values not bigger is better

Recently, the Central Bank of China Deputy Governor Chen Yulou during the two sessions for large currency rumors gives the exact response: central banks have no intention of issuing large denomination currency. In this regard, the expert pointed out that currency values should give full consideration to the size of a country's economy and convenience of residents. Currency values are not bigger is better, in our case, there is no necessity of issuing large banknotes. In addition, taking into account the security and the development of technology, electronic trade can fully meet the needs of big deals in the future, and this should be the future direction.

　　Currency is not bigger is better

Throughout the release history of the Yuan, Yuan has been very rare in large denominations, has issued five series, only the first series had a maximum of 50000 Yuan face value, and this is out of consideration of the particular economic circumstances. Released after four series, there have been the maximum face value of more than 100 Yuan.

In recent years, issuing larger denomination of RMB's voice has appeared, and some even posted on the Internet "the sixth series of the Renminbi" large bills.

Large denomination currency so attractive? "Currency values not bigger is better. The size of the face value of a country's currency is determined by many factors, taking into account the development of commodity economy in the country, currency stability and ease of use, and the habits of the residents is an important consideration. "Guo tianyong, Director of banking Research Center, China Central University of finance in an interview with reporters, said the Renminbi issuance of denominations like thousands, will encounter not only use a small amount of problems may also lead to trade the inconvenience.

Look at the history of Europe and the developed countries currency values, you can find, these countries are paying attention to the stability of currency values and habits of the inhabitants. United States has maintained for decades the largest denomination of $ 100, the euro from advent to the present, has maintained the highest denomination of 500 euros. We seldom hear these economies to discuss issues of issuing large denomination, on the contrary, these economies and even some officials and experts is proposing to abolish the large face value of $ 100 and 500 euros.

　　"Bills", there is no market demand

Large bills in several other economies of the world have appeared, many countries are still in use, but it is mainly based on a country's real development. Guo tianyong, pointed out that, generally speaking, a State chose to launch large denominations of currency there are two possibilities, one is the serious inflation in the country, the country's Central Bank was forced to choose to issue large currency; the other is the wealth of the country experienced a sharp growth, there is even a shortage of money.

The existence of such needs? Guo tianyong, pointed out that the present CPI (consumer price index) trend is mild, there is risk of inflation. China's economy maintained rapid growth at around 7%, residents ' wealth growth is relatively stable, money supply is normal. Therefore, there is no need for issuing large denomination currency in China.

In addition, suddenly release large bills are likely to increase inflation expectations, disturb the overall economic development of order. Experts point out that large bills are more likely to give the masses a mental suggestion, it's money in the hands of "worthless", and once the desired form, it could lead to price increases.

Societe Generale Chief Economist, Lu zhengwei said earlier it issued large amounts of currency should also not be appropriate. A main reasons is, currently for economic among large of trading needs, actually online paid and the mobile paid has can meet needs, no necessary issued large Yuan to support so-called of large trading, and large Yuan in face fake note of situation Xia also makes identification cost rose, people for received large Yuan of fake note concerns especially, also will improve trading cost, so issued bills to caution.

　　Pilot implementation of 1 Yuan coin

Recently, the Jinan branch of people's Bank of China said, implementation will be started in some cities in Shandong province this year "1 coupon of coin project", in 5 cities in Shandong province to stop stocking 1 coupon notes to commercial banks. Chen Yulou said in some places, the pilot, and then gradually extended.

In this regard, Guo tianyong, noted that the move of 1 Yuan coins or to make daily transactions easier. 1 Yuan coins in terms of durability and preservation has many advantages. In real life, Metro, self-service vending machines and in coins is also very easy to use.

Many experts believe that 1 Yuan banknotes removed from circulation just "prelude", with the advancement of technology, electronic trading will become mainstream. Guo tianyong, said relying on online, online payments and mobile payments, electronic trading conditions are mature, both currency and the payment will be in the future is going to be electronic.

It is understood that the Central Bank is studying the issue of "digital currency". "Notes with low technical content, from the point of view of security, cost, and were replaced by new technologies and new products is the general trend. "The people's Bank of China Governor Zhou xiaochuan said, the Central Bank issued digital currencies are mainly replace physical cash, reduce the cost of traditional notes issue, circulation, improve convenience.

(Editors: Pan Yi burn UN657)
2016-03-16 17:22:01
Surging

央行：无发行大额钞票计划 货币面值并非越大越好

　　日前，中国央行副行长陈雨露在全国两会期间对于大额人民币的传言给出了确切回应：央行尚没有发行大面额人民币的打算。对此，专家指出，货币面值的大小要充分考虑到一国的经济情况与居民使用的便利性。货币面值并非越大越好，就我国而言，不存在发行大额钞票的必要性。此外，考虑到安全性以及技术的发展，电子化交易完全可以满足未来大额交易的需求，而这也应该是未来发展的大方向。

　　币值并非越大越好

　　纵观人民币的发行历史，大额面值的人民币一直十分罕见，在已经发行的五套人民币中，只有第一套人民币有过最大50000元的面额，而这也是出于当时特殊经济情况的考虑。在此之后发行的四套人民币中，没有出现过最大面值超过100元的。

　　近年来，关于发行更大额面值人民币的声音时有出现，甚至有人在网上贴出了“第六套人民币”的大额钞票样票。

　　大面额人民币真的如此有吸引力？“货币面值并非越大越好。一国货币面值的大小是由多种因素共同决定的，一般要考虑到该国商品经济发展的情况、币值的稳定性以及使用的便利性等，其中居民的使用习惯是一项重要的考虑因素。”中央财经大学中国银行业研究中心主任郭田勇在接受本报记者采访时说，人民币若发行像千元这样的面额，不仅会遇到使用量小的问题，还可能造成交易的不便。

　　而看看欧美这些发达国家货币面值的发展史，可以发现，这些国家也很注重货币面值的稳定性与居民的使用习惯。美国已经维持了几十年100美元的最大面额，欧元从问世到现在，一直保持最高500欧元的面额。我们很少听到这些经济体讨论要发行大额面值的问题，相反，这些经济体内甚至有些官员、专家正提议要废除100美元与500欧元的大额面值。

　　“大钞”尚无市场需求

　　大额钞票在一些世界其他经济体也有出现，不少国家至今仍在使用，但这主要还是基于一国的实际发展情况。郭田勇指出，一般而言，一国选择推出大额面值的货币主要有两种可能，一种是该国出现了严重的通货膨胀，该国央行被迫选择发行大额货币；另一种是该国财富出现了急剧增长，甚至出现了货币紧缺的情况。

　　那么我国是否存在这样的需求呢？郭田勇指出，我国目前CPI（居民消费价格总水平）走势温和，并不存在通胀的风险。我国经济目前基本维持在7%左右的中高速增长，居民财富增长相对稳定，货币供给正常。所以，我国目前并没有发行大额面值人民币的必要。

　　此外，突然发行大额钞票很可能加剧通胀预期，扰乱整体经济的发展秩序。专家指出，大额钞票更容易给群众一种心理暗示，那就是手上的钱“越来越不值钱”了，而一旦预期形成，就可能导致物价的上涨。

　　兴业银行首席经济学家鲁政委此前表示，发行大额的人民币应该还是不合适的。一个主要原因是，目前对于经济当中大额的交易需求，实际上网上支付及移动支付已经能满足需求，没有必要发行大额人民币来支持所谓的大额交易，而且大额人民币在面对假钞的情况下也使鉴定成本上升，人们对于收到大额人民币的假钞担忧尤甚，同样会提高交易成本，所以发行大钞要谨慎。

　　试点推行1元硬币

　　日前，中国人民银行济南分行发布消息称，今年山东省将在部分地市启动实施“1元券硬币化工程”，在山东5个城市停止向商业银行投放1元券纸币。陈雨露表示，先在一些地方试点，然后逐步推广。

　　对此，郭田勇指出，推动1元人民币硬币化主要还是为了使日常交易更加便利。1元硬币在耐用性及保存方面有不少优势。现实生活中，地铁、自助售货机等在使用硬币方面也很方便。

　　不少专家认为，1元纸币退出流通只是“前奏”，随着技术的进步，电子化交易将成为主流。郭田勇表示，依托于网上消费、网络支付以及移动支付，电子化交易的条件正在逐渐成熟，未来无论是货币还是支付方式都会逐渐走向电子化方向。

　　据了解，我国央行正在研究发行“数字货币”。“纸币技术含量低，从安全、成本等角度看，被新技术、新产品取代是大势所趋。”中国人民银行行长周小川说，央行发行的数字货币目前主要是替代实物现金，降低传统纸币发行、流通的成本，提高便利性。

(责任编辑：潘奕燃 UN657)
2016-03-16 17:22:01
澎湃