The second series of Renminbi banknotes was introduced on March 1, 1955. Together with the introduction of the second series, the decimal point was moved 4 places to the left. As a result, one first series ¥10,000 note is equivalent to one second series ¥1 note. Though rarely used, coins of the 2nd series are still valid in the PRC, and the PBC also put new coins to the market.
When was the second series of Renminbi banknotes introduced in China?
The second series of Renminbi banknotes was introduced on March 1, 1955.