China introduces new version of 100 Yuan banknote

China's central bank, the People's Bank of China, has put into circulation a new version of the 100 Yuan banknote from today, state media reported.

Xinhua News Agency reported the new note, the largest denomination of the Chinese currency, will be harder to counterfeit and easier for machines to read, thanks to its enhanced security features.

Manufacturers of cash receiving equipment should upgrade their products for the new bank note, it quoted the central bank as saying.

It said the old version will stay in circulation but gradually be phased out.