ID :
12168
Fri, 07/11/2008 - 11:59
Auther :
Shortlink :
https://oananews.org//node/12168
The shortlink copeid
Commemorative note to mark Beijing Olympic a sellout
Beijing, July 11 (PTI) Scores of Chinese queued up for hours, many spending the night in the open before banks to buy a special 10 Yuan (USD 1.46) currency note bereft of the imgae of patriarch Mao Zedong issued to mark the next month'sBeijing Olympic Games.
The new commemorative note turned out to be a big sellout on the opening day itself, with all the six million being sold out in less than an hour across the communistnation.
Many also tried to make a fast buck by cashing in on the craze. Although the face value of the commemorative note is less than USD 1.50, they were being traded for 30 timesmore, state media reported.
On taobao.com, a leading auction site in China, more than 50 people have already offered to sell their bank notes for prices of up to 9,999 Yuan, state-run Xinhua news agencysaid.
The 10 Yuan note issued by China's central bank, the People's Bank of China (P.B.O.C.), has the picture of the "Bird's Nest" or the National Stadium, the main venue for Olympics, and the Beijing Games emblem set against the backdrop of the Temple of Heaven, one of China's well knownlandmarks.
These pictures replace the portrait of the late Chinese leader Mao Zedong and China's emblem on the ordinary 10-Yuannotes.
The other side of the new note portrays the famous ancient Greek marble statue of a discus thrower, Discobolus, portraitsof athletes and the Arabic numeral 2008.
In Nanjing, capital of Jiangsu province, less than 3,000 notes were available for hundreds of enthusiasts standing in serpentine queues at branches as early as Mondayevening, while the notes were released Wednesday, Xinhua said.
The police had to be summoned to maintain order, it said.
Notes were in short supply elsewhere, including Beijing, Tianjin and Shanghai and Hainan and Shaanxi provinces, itsaid.
A woman surnamed Li said she was waiting in front of the bank since 5 P.M. on Tuesday and spent the night with about 80 other such enthusiasts who carried food and drinkalong with them, as if on a picnic.
This is the third time that China’s central bank hascome out with special notes to commemorate a major event.
Commemorative notes were released for the first time in 1999, to mark the 50th anniversary of the founding of the People’s Republic in China. Next such note was released in2000 to celebrate the new millennium.
The new commemorative note turned out to be a big sellout on the opening day itself, with all the six million being sold out in less than an hour across the communistnation.
Many also tried to make a fast buck by cashing in on the craze. Although the face value of the commemorative note is less than USD 1.50, they were being traded for 30 timesmore, state media reported.
On taobao.com, a leading auction site in China, more than 50 people have already offered to sell their bank notes for prices of up to 9,999 Yuan, state-run Xinhua news agencysaid.
The 10 Yuan note issued by China's central bank, the People's Bank of China (P.B.O.C.), has the picture of the "Bird's Nest" or the National Stadium, the main venue for Olympics, and the Beijing Games emblem set against the backdrop of the Temple of Heaven, one of China's well knownlandmarks.
These pictures replace the portrait of the late Chinese leader Mao Zedong and China's emblem on the ordinary 10-Yuannotes.
The other side of the new note portrays the famous ancient Greek marble statue of a discus thrower, Discobolus, portraitsof athletes and the Arabic numeral 2008.
In Nanjing, capital of Jiangsu province, less than 3,000 notes were available for hundreds of enthusiasts standing in serpentine queues at branches as early as Mondayevening, while the notes were released Wednesday, Xinhua said.
The police had to be summoned to maintain order, it said.
Notes were in short supply elsewhere, including Beijing, Tianjin and Shanghai and Hainan and Shaanxi provinces, itsaid.
A woman surnamed Li said she was waiting in front of the bank since 5 P.M. on Tuesday and spent the night with about 80 other such enthusiasts who carried food and drinkalong with them, as if on a picnic.
This is the third time that China’s central bank hascome out with special notes to commemorate a major event.
Commemorative notes were released for the first time in 1999, to mark the 50th anniversary of the founding of the People’s Republic in China. Next such note was released in2000 to celebrate the new millennium.
