China 10 Yuan Foreign Exchange Certificate – Yangtze Gorges & State Control (1979 Issue)
Pick# FX5a | Numista# 206336
Issued in 1979 by the Bank of China, this 10 Yuan Foreign Exchange Certificate (FEC) represents a unique chapter in China’s monetary history. Unlike standard Renminbi notes, FECs were designed exclusively for foreign visitors, ensuring that hard currency exchange was tightly regulated. The note features the Yangtze Gorges on the obverse—a symbol of natural majesty and national pride—while the reverse carries official text restricting its use to designated places within China. Today, these certificates are prized by collectors as artifacts of China’s controlled economy before market reforms.
Design Highlights
Obverse: Printed in deep blue on multicolored underprint, the front depicts the Yangtze Gorges at center, one of China’s most iconic natural landmarks. The vignette emphasizes grandeur and permanence, aligning with the state’s image of stability. Text includes 中國銀行 外汇兑换券 (“Bank of China Foreign Exchange Certificate”) and the denomination in both Chinese and English.
Reverse: The back is more austere, with decorative borders framing bilingual text. It states that the certificate is equivalent in value to the Renminbi yuan but restricted to use in designated areas within China. This reinforces its role as a controlled instrument of exchange rather than general currency.
Color Scheme: Dominated by blue and violet tones, the palette conveys authority and trustworthiness, distinct from standard RMB issues.
Key Specifications
Feature Description
Country China
Issuer Bank of China
Series 1979 Issue
Pick Number P# FX5a
Denomination 10 Yuan
Size 178 × 62 mm
Material Cotton-based paper
Printer Bank of China
Year of Issue 1979
Security Features Watermark (star and torch), serial numbers, fine-line underprint
Purpose Foreign Exchange Certificate (restricted use)
Why Collect This Note
The 1979 China 10 Yuan FEC is more than a banknote—it’s a policy instrument reflecting China’s cautious engagement with the outside world. Collectors value it for:
Historical context: A tangible reminder of China’s pre-reform economy.
Distinctive purpose: Issued only to foreigners, never circulated domestically.
Iconic imagery: The Yangtze Gorges, symbolizing natural heritage and national pride.
