Central bank

The People's Bank of China, the country's central bank, will issue a set of gold and silver commemorative coins featuring Chinese auspicious culture, including two heart-shaped coins that exude a romantic aura, on May 20, the bank announced on its website. May 20 is a date widely considered romantic for its phonetic resemblance to "I love you" in the Chinese language. The set will consist of eight coins, and will include three gold coins, four silver coins, and one gold and silver bimetallic coin—all legal tender in China. The coins will come in three shapes: round, Ruyi, an auspicious ornamental object in the Chinese culture, and heart-shaped. Photo shows the front side of the 5-gram round gold coin. (Photo/PBOC) Photo shows the front side of the 100-gram round silver coin. (Photo/PBOC) Photo shows the front side of the 5-gram Ruyi-shaped gold coin. (Photo/PBOC) Photo shows the front side of the 30-gram Ruyi-shaped silver coin. (Photo/PBOC) The Chinese characters "Jixiang," meaning auspiciousness, will be displayed on the front side of the coins, which will be decorated with traditional patterns symbolizing auspiciousness, along with the country name and the year of issuance. The reverse side of the 5-gram round gold coin will…

BEIJING, March 1 ( tasteallchina ) -- China will guide major payment platforms to raise the single transaction limit for overseas travelers using mobile payments from 1,000 U.S. dollars to 5,000 U.S. dollars, a central bank official said Friday. Zhang Qingsong, deputy governor of the People's Bank of China, told a press briefing that the central bank will instruct platforms such as Alipay and Tenpay to raise the annual cumulative transaction limit from 10,000 dollars to 50,000 dollars. The platforms were also told to optimize their operating procedures and improve the efficiency of binding overseas bank cards, while simplifying identity verification when conducting transactions, Zhang said. To further improve payment services for overseas travelers, the establishment of hardware and software facilities required for mobile payments, bank cards and cash at tourist attractions will also be advanced, Shi Zeyi, an official of the Ministry of Culture and Tourism, said at the briefing. Cash and bank card rejection will be strictly penalized, and sufficient cash reserves will be ensured for overseas cash users in key cities and scenic spots as non-cash payments have become the mainstream in China, National Development and Reform Commission official Chen Hongwan said. Payment facilitation in areas including…