China to launch harder-to-copy 100 yuan note

The People's Bank of China (PBOC) will introduce a new 100-yuan bank note from November 12 that will be harder to fake.

The new bank note will also be easier for automatic telling machines to read, accoridng to the Xinhua news agency, which notes the current version has been in circulation since 2005. The 100-yuan note is the largest denomination of the Chinese currency.

The design of the new bank note will stay largely the same as the 2005 series but have enhanced security features, according to the PBOC, including an addition printed serial number and colour-shifting inks.

The value of counterfeit money seized between 2012 and 2014 rose more than 50 per cent from around 330m yuan ($50m) to 530m yuan, according to local press reports.

Earlier this year, China's Ministry of Public Security said around 96 per cent of the forged banknotes seized in recent years were printed from hand-painted templates designed by artist Peng Daxiang, who was arrested in 2013 and jailed for life.