{"product_id":"people-039-s-republic-of-china-bank-of-china-1979-10-fen-0-10-yuan-fec","title":"People\u0026#039;s Republic of China – Bank of China 1979 10 Fen \/ 0.10 Yuan FEC","description":"\u003ch1 data-path-to-node=\"0\"\u003e\u003cspan style=\"text-decoration: underline;\"\u003e\u003cb data-path-to-node=\"0\" data-index-in-node=\"0\"\u003e\u003cspan style=\"color: rgb(127, 22, 14); font-size: xx-large; text-decoration: underline;\"\u003ePeople's Republic of China – Bank of China 1979 10 Fen \/ 0.10 Yuan Foreign Exchange Certificate (FEC)\u003c\/span\u003e\u003c\/b\u003e\u003c\/span\u003e\u003c\/h1\u003e\n\u003cul data-path-to-node=\"2\"\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,0,0\" id=\"p-rc_16eca98e96d5a37b-176\"\u003e\u003cspan data-path-to-node=\"2,0,0,0\"\u003e\u003cb data-path-to-node=\"2,0,0,0\" data-index-in-node=\"0\"\u003eIssuing Authority:\u003c\/b\u003e Bank of China (中国银行 – \u003ci data-path-to-node=\"2,0,0,0\" data-index-in-node=\"41\"\u003eZhongguo Yinhang\u003c\/i\u003e)\u003c\/span\u003e\u003cspan data-path-to-node=\"2,0,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,1,0\" id=\"p-rc_16eca98e96d5a37b-177\"\u003e\u003cspan data-path-to-node=\"2,1,0,0\"\u003e\u003cb data-path-to-node=\"2,1,0,0\" data-index-in-node=\"0\"\u003eDenomination:\u003c\/b\u003e \u003cb data-path-to-node=\"2,1,0,0\" data-index-in-node=\"14\"\u003e0.10 Yuan\u003c\/b\u003e \/ \u003cb data-path-to-node=\"2,1,0,0\" data-index-in-node=\"26\"\u003e壹角 (1 Jiao)\u003c\/b\u003e \/ \u003cb data-path-to-node=\"2,1,0,0\" data-index-in-node=\"40\"\u003eTEN FEN\u003c\/b\u003e (10 Fen = 1 Jiao = 0.10 Yuan)\u003c\/span\u003e\u003cspan data-path-to-node=\"2,1,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,2,0\" id=\"p-rc_16eca98e96d5a37b-178\"\u003e\u003cspan data-path-to-node=\"2,2,0,0\"\u003e\u003cb data-path-to-node=\"2,2,0,0\" data-index-in-node=\"0\"\u003eType:\u003c\/b\u003e Foreign Exchange Certificate (FEC \/ 外汇兑换券 – \u003ci data-path-to-node=\"2,2,0,0\" data-index-in-node=\"50\"\u003eWaihui Duihuanquan\u003c\/i\u003e)\u003c\/span\u003e\u003cspan data-path-to-node=\"2,2,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,3,0\" id=\"p-rc_16eca98e96d5a37b-179\"\u003e\u003cspan data-path-to-node=\"2,3,0,0\"\u003e\u003cb data-path-to-node=\"2,3,0,0\" data-index-in-node=\"0\"\u003eSeries Date Marked:\u003c\/b\u003e \u003cb data-path-to-node=\"2,3,0,0\" data-index-in-node=\"20\"\u003e1979\u003c\/b\u003e (一九七九年)\u003c\/span\u003e\u003cspan data-path-to-node=\"2,3,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,4,0\"\u003e\u003cb data-path-to-node=\"2,4,0\" data-index-in-node=\"0\"\u003eCatalog Reference:\u003c\/b\u003e \u003cb data-path-to-node=\"2,4,0\" data-index-in-node=\"19\"\u003ePick # FX1\u003c\/b\u003e (Standard Catalog of World Paper Money – Special Issues)\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,5,0\" id=\"p-rc_16eca98e96d5a37b-180\"\u003e\u003cspan data-path-to-node=\"2,5,0,0\"\u003e\u003cb data-path-to-node=\"2,5,0,0\" data-index-in-node=\"0\"\u003eSerial Number:\u003c\/b\u003e \u003cb data-path-to-node=\"2,5,0,0\" data-index-in-node=\"15\"\u003e\u003ccode data-path-to-node=\"2,5,0,0\" data-index-in-node=\"15\"\u003eYE 055317\u003c\/code\u003e\u003c\/b\u003e (6 digits with two-letter prefix \u003ccode data-path-to-node=\"2,5,0,0\" data-index-in-node=\"58\"\u003eYE\u003c\/code\u003e)\u003c\/span\u003e\u003cspan data-path-to-node=\"2,5,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,6,0\" id=\"p-rc_16eca98e96d5a37b-181\"\u003e\u003cspan data-path-to-node=\"2,6,0,0\"\u003e\u003cb data-path-to-node=\"2,6,0,0\" data-index-in-node=\"0\"\u003eVignette (Face):\u003c\/b\u003e The majestic \u003cb data-path-to-node=\"2,6,0,0\" data-index-in-node=\"30\"\u003eHuangguoshu Waterfall\u003c\/b\u003e (黄果树瀑布) in Guizhou Province, one of the largest waterfalls in China and East Asia\u003c\/span\u003e\u003cspan data-path-to-node=\"2,6,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"2,6,0,2\"\u003e.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,7,0\"\u003e\u003cb data-path-to-node=\"2,7,0\" data-index-in-node=\"0\"\u003eDimensions:\u003c\/b\u003e Approx. 120 × 52 mm\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"2,8,0\" id=\"p-rc_16eca98e96d5a37b-182\"\u003e\u003cspan data-path-to-node=\"2,8,0,0\"\u003e\u003cb data-path-to-node=\"2,8,0,0\" data-index-in-node=\"0\"\u003eColor Palette:\u003c\/b\u003e Rich chocolate brown, sepia, and olive-green on cream banknote paper\u003c\/span\u003e\u003cspan data-path-to-node=\"2,8,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"2,8,0,2\"\u003e.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 data-path-to-node=\"4\"\u003eRestrictive Reverse Clause\u003c\/h3\u003e\n\u003cp data-path-to-node=\"5\" id=\"p-rc_16eca98e96d5a37b-183\"\u003e\u003cspan data-path-to-node=\"5,0\"\u003eThe reverse features bilingual text in Chinese and English outlining strict currency controls\u003c\/span\u003e\u003cspan data-path-to-node=\"5,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"5,2\"\u003e:\u003c\/span\u003e\u003c\/p\u003e\n\u003cblockquote data-path-to-node=\"6\"\u003e\n\u003cp data-path-to-node=\"6,0\"\u003e\u003ci data-path-to-node=\"6,0\" data-index-in-node=\"0\"\u003e\"The yuan expressed in this certificate is equivalent in value to the Renminbi yuan. This certificate can only be used within China at designated places. No request to register its loss will be accepted by the Bank.\"\u003c\/i\u003e\u003c\/p\u003e\n\u003cp data-path-to-node=\"6,1\" id=\"p-rc_16eca98e96d5a37b-184\"\u003e\u003c\/p\u003e\n\u003c\/blockquote\u003e\n\u003ch3 data-path-to-node=\"8\"\u003eHistorical Context: The Dual-Currency Era\u003c\/h3\u003e\n\u003cul data-path-to-node=\"9\"\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"9,0,0\"\u003e\u003cb data-path-to-node=\"9,0,0\" data-index-in-node=\"0\"\u003eDeng Xiaoping’s Open Door Policy (1979):\u003c\/b\u003e When China began opening to foreign tourism and international commerce in the late 1970s, the government instituted a strict two-tier monetary system to prevent foreign currencies from circulating directly and to control hard foreign exchange.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"9,1,0\" id=\"p-rc_16eca98e96d5a37b-185\"\u003e\u003cspan data-path-to-node=\"9,1,0,0\"\u003e\u003cb data-path-to-node=\"9,1,0,0\" data-index-in-node=\"0\"\u003eThe Role of FECs:\u003c\/b\u003e Foreign travelers, diplomats, and business visitors had to convert their foreign currencies (USD, British pounds, Hong Kong dollars) into \u003cb data-path-to-node=\"9,1,0,0\" data-index-in-node=\"156\"\u003eForeign Exchange Certificates (FEC)\u003c\/b\u003e issued by the Bank of China\u003c\/span\u003e\u003cspan data-path-to-node=\"9,1,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"9,1,0,2\"\u003e. Regular Chinese citizens used domestic Renminbi (RMB).\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"9,2,0\"\u003e\u003cb data-path-to-node=\"9,2,0\" data-index-in-node=\"0\"\u003eFriendship Stores \u0026amp; Luxury Goods:\u003c\/b\u003e FECs were the only legal tender accepted in state-run \"Friendship Stores\" (\u003ci data-path-to-node=\"9,2,0\" data-index-in-node=\"109\"\u003eYouyi Shangdian\u003c\/i\u003e), upscale hotels, international airports, and duty-free ports to purchase imported luxury goods, electronics, and high-end silk that standard RMB could not buy.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"9,3,0\"\u003e\u003cb data-path-to-node=\"9,3,0\" data-index-in-node=\"0\"\u003eA Lucrative Black Market:\u003c\/b\u003e Because FEC notes granted access to coveted foreign goods, a massive street-level black market emerged where locals offered substantial premiums (often 30% to 50% above face value) in domestic RMB to obtain FECs from foreign travelers.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"9,4,0\"\u003e\u003cb data-path-to-node=\"9,4,0\" data-index-in-node=\"0\"\u003eDemonetization (1994–1995):\u003c\/b\u003e On January 1, 1994, China unified its foreign exchange system, phasing out FECs entirely and officially retiring them on June 30, 1995.\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 data-path-to-node=\"11\"\u003eTechnical \u0026amp; Visual Assessment\u003c\/h3\u003e\n\u003cul data-path-to-node=\"12\"\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"12,0,0\"\u003e\u003cb data-path-to-node=\"12,0,0\" data-index-in-node=\"0\"\u003eTechnical Grade:\u003c\/b\u003e \u003cb data-path-to-node=\"12,0,0\" data-index-in-node=\"17\"\u003eChoice Crisp Uncirculated (CU 63 – CU 64)\u003c\/b\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"12,1,0\"\u003e\u003cb data-path-to-node=\"12,1,0\" data-index-in-node=\"0\"\u003eSubstrate \u0026amp; Surface Preservation:\u003c\/b\u003e\u003c\/p\u003e\n\u003cul data-path-to-node=\"12,1,1\"\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"12,1,1,0,0\" id=\"p-rc_16eca98e96d5a37b-186\"\u003e\u003cspan data-path-to-node=\"12,1,1,0,0,0\"\u003eClean, factory-fresh paper body showing zero folds, handling bends, or ripples\u003c\/span\u003e\u003cspan data-path-to-node=\"12,1,1,0,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"12,1,1,0,0,2\"\u003e.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"12,1,1,1,0\" id=\"p-rc_16eca98e96d5a37b-187\"\u003e\u003cspan data-path-to-node=\"12,1,1,1,0,0\"\u003eCrisp 90-degree square corners with no rounding or blunting\u003c\/span\u003e\u003cspan data-path-to-node=\"12,1,1,1,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"12,1,1,1,0,2\"\u003e.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"12,1,1,2,0\" id=\"p-rc_16eca98e96d5a37b-188\"\u003e\u003cspan data-path-to-node=\"12,1,1,2,0,0\"\u003eClean, bright white margins with no pinholes, staple marks, pencil graffiti, or edge toning\u003c\/span\u003e\u003cspan data-path-to-node=\"12,1,1,2,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"12,1,1,2,0,2\"\u003e.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/li\u003e\n\u003cli\u003e\n\u003cp data-path-to-node=\"12,2,0\" id=\"p-rc_16eca98e96d5a37b-189\"\u003e\u003cspan data-path-to-node=\"12,2,0,0\"\u003e\u003cb data-path-to-node=\"12,2,0,0\" data-index-in-node=\"0\"\u003eCentering:\u003c\/b\u003e Well-balanced margin framing on both the face and reverse\u003c\/span\u003e\u003cspan data-path-to-node=\"12,2,0,1\"\u003e\u003csup class=\"superscript\"\u003e\u003c\/sup\u003e\u003c\/span\u003e\u003cspan data-path-to-node=\"12,2,0,2\"\u003e.\u003c\/span\u003e\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"JV Coins \u0026 Currency","offers":[{"title":"Default Title","offer_id":50688626950402,"sku":"168703663209","price":2.5,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0844\/7393\/8178\/files\/1_67f4f916-fb5c-40a9-aa1b-aec8e22c0acd.jpg?v=1791770646","url":"https:\/\/jvcoinscurrency.com\/products\/people-039-s-republic-of-china-bank-of-china-1979-10-fen-0-10-yuan-fec","provider":"JV Coins \u0026 Currency","version":"1.0","type":"link"}