China printing currencies for countries like Nepal, Sri Lanka and Bangladesh

(COLOMBO, LANKAPUVATH) – China is printing currencies for the governments of several countries, including Nepal, Sri Lanka, Bangladesh, Malaysia and Brazil, the Chinese media reported, quoting a top official of the state-owned banknote printer.

Liu Guisheng, Chairman of China Banknote Printing and Minting Corporation, wrote in an article in May in China Finance, a bi-monthly journal run by China’s central bank, that China obtained the first international commercial order for printing money from Nepal in 2015.

The state-owned firm won the bids of 100 rupees, 1,000 rupees and 5 rupees from Nepal, Liu said.

Since then the company had “seized the opportunities brought by the initiative” and “successfully won contracts for currency production projects in a number of countries” including Thailand, Bangladesh, Sri Lanka, Malaysia, Brazil and Poland, Liu wrote.

The ‘China Banknote Printing and Minting Corporation’ confirmed that money production plants across the country were running at near full capacity to meet an unusually high quota set by the government this year, Hong Kong-based South China Morning Post reported.

It said that most of the demand comes from participants in the ‘Belt and Road Initiative’

(PTI)

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