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why doesn't China issue 500 or 1000 yuan notes< On June 5, the person in charge of the relevant departments of the people's Bank of China came forward and denied the recent news that the central bank would issue a new version of RMB 500. However, the online discussion on whether the 500 yuan note should be issued has not been settled. So how expensive is the "most expensive" bill in the world? What factors determine the denomination of the currency<

the most expensive banknote in the world is about 6600 yuan.

in terms of face value alone, the largest banknote in the history of world currency is the 100 trillion mark banknote issued by Germany in 1924. Even now, some South American countries, Japan and South Korea still issue large denomination currencies, which often amount to tens of thousands or even hundreds of millions. Of course, high face value is not equal to value. As far as the reporter knows, the most expensive banknote in the world is probably the Swiss Franc with a face value of 1000 issued in Switzerland, which is about 822 US dollars. In addition, the highest denomination of the euro is 500, about $642

as for the determination of the face value, the factors are very complex. We should consider not only the economic development stage of each country, people's living standards and purchasing power, but also the people's habit of using money, the objective needs of commodity circulation and the stability of currency value. Even in developed countries, the situation is different. For example, the highest denomination of Japanese banknotes is 10000 yen, while the highest denomination of British banknotes is only 50 pounds

in Europe and the United States, large banknotes have many disadvantages

although it's good to hold valuable banknotes, it's too inconvenient to spend them. In western countries, the bank credit system is developed, the anti money laundering mechanism is also very sound, and there is no cash at all for large transactions such as buying a car or a house. When the reporter first came here, he offered 20000 euro to buy a new car. That is to say, he was rejected by the car shop and told that he had to pay by check or bank card. In addition, all kinds of telephone bills and water and electricity bills in daily life are mostly transferred by bank, and rarely traded in cash

of course, if you have to use cash, it's OK. Take the euro used by journalists as an example, the most commonly used large note is 50 euro. If you take 100 euro and 200 euro notes to the cashier, the cashier will look at you suspiciously for a long time, and then rush to change. Although 500 euro is legal tender and businesses have no right to reject it, many small shops and gas stations in the Netherlands and Belgium clearly put up notices: "our shop refuses 500 euro". Ask the shop why, all clearly told reporters: first, afraid of inadvertently received counterfeit money; Second, keep the change for other customers

since large notes are so unpopular, why should the European Central Bank issue high value notes? The ECB's explanation is that there are as many as 12 countries in the euro area, and people in some countries have a tradition of issuing and using large denomination banknotes. In addition, the service fee is paid for international credit card, but the cash is not used, so the necessary large amount of money can be easily carried by international travelers

however, some opponents believe that although the large denomination banknotes are easy to carry, they also open the door for money laundering, tax evasion and other criminal activities. Imagine a million dollars. If they are all 100 dollar bills, you need a very large suitcase to load them all. But if you change them into 500 euro bills, you only need a bigger handbag to hold them. In April this year, the Financial Times reported that the number of 500 euro notes in circulation increased by 22% last year after 28% the year before last, which may be related to criminal activities

the time is ripe to issue large value paper money

this is the case in Europe and the United States, so does China need a larger denomination currency now? Our reporter interviewed Mr. Zhong Wei, a financial expert from the financial research center of Beijing Normal University. Zhong Wei believes that the denomination of paper money mainly depends on the amount and habits of daily currency use, and it is meaningless to simply compare the denomination of RMB with other currencies

when the central bank denied that it planned to issue RMB 500 in denomination, it did not explain the reason for not issuing. Expert analysis, the central bank mainly for two considerations. First of all, generally speaking, the issue of large denomination currency will be considered when the inflation is serious and the value of paper currency is reced. But at present, China's price rise remains at about 2%, which is very stable, so there is no need to issue large denomination currency. If issued, it may arouse residents' fear of inflation. Secondly, large denomination banknotes are easy to stimulate illegal activities such as counterfeiting and money laundering<

Zhong Wei told reporters that the central bank said that it would not issue 500 yuan in denomination for the time being, which does not mean that it will not issue in the future. There is still a certain demand for large currency in China

at present, China is in a period of rapid monetization. At the same time, the development of electronic payment is not satisfactory. More than 90% of daily transactions still use cash. Even in the economically developed southeast coastal areas, the proportion of electronic payment is only 20%. As a result, there is a huge demand for cash

at present, there is a demand for large denomination banknotes in southeast coastal areas. In daily payment, the average person keeps 5-6 large denomination banknotes in his wallet, that is, 500-600 yuan. In many cases, such a lot of money is not enough to cope with a single consumption. The main consumer class in the southeast coast usually puts 10-30 sheets, which is a very thick stack. It's very inconvenient to carry

small denomination may bring other unexpected problems. For example, the cash box in an ATM can hold hundreds of banknotes of the largest denomination. In normal business hours, there are 50-60 people withdrawing money on average, so the money in an ATM can only be supplied for about half a day. If the bank changes the current increase from one day to half a day, it will virtually increase the bank's human and material input. The smaller denomination also increases the workload of bank counter counting; In terms of storage, the daily storage workload is also quite large. If the printing cost is added, according to the estimation of some economists, issuing 500 yuan banknotes can save more than 2 billion yuan annually< According to Zhong Wei, since the issuance of the fifth set of RMB in 1999, China's residents' monetary income has increased significantly, so it has the foundation to launch 500 yuan notes. And theoretically speaking, there is no necessary relationship between the denomination of banknotes and inflation. In order to avoid causing panic among residents, the amount of large denomination banknotes can be properly controlled, and the southeast coastal areas are the main circulation areas of large denomination banknotes. According to Zhong Wei's prediction, the time will be ripe within three years, and 500 yuan denomination currency will appear