Where do China's damaged currency notes go?
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E-mail China Daily, November 20, 2015
Large amount of damaged notes, with face value of 100 billion yuan ($15.67 billion), are burned to generate electricity at a biomass power plant in Yancheng city, East China's Jiangsu province, Chinanews.com reported.
It's important to destroy damaged notes having poor anti-counterfeit function as the People's Bank of China regards the notes as the country's business cards and thinks the notes should remain in mint condition to avoid fake money.
"The damaged notes unloaded from the trucks will be burned together with straws after being shredded," said Zhu Hongwei, a fuel worker at the plant.
Zhu added: "A truck of 30-ton damaged notes can generate about 30,000 kilowatt hours of electricity, which can provide electricity to a family for 30 months if the family needs 100 kilowatt hours of power each month."
"One-thousand-and-eight-hundred tons of damaged notes will be burned in a year as five truck loads of them are delivered to the plant every month," said Zhu.
Biomass power plant prefers the notes to other biomass, because the burning notes have higher heat and lower water content than other biomass such as plant materials.
Besides generating electricity, the damaged notes can contribute to sustainable development.
"The ashes of the burned notes can be turned into bricks for constructing projects," said Zhu Hongwei.
Burning of the damaged notes continues as the People's Bank of China issued the 2015 edition of the 100 yuan bill on Nov 12.
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