1 Chinese Yuan Foreign Exchange Certificate (1979)

The 1 Chinese Yuan Foreign Exchange Certificate issued in 1979 forms part of a distinctive and now withdrawn category of Chinese currency that was used during a specific period of economic transition in the People’s Republic of China. These certificates were issued by the Bank of China and were intended primarily for use by foreign visitors, diplomats, and overseas Chinese, operating alongside — but separately from — the domestic Renminbi system.

Foreign Exchange Certificates (often abbreviated to FECs) were introduced to control the circulation of foreign currency within China and to ensure that overseas visitors spent money within approved channels. Although denominated in yuan and equivalent in value to Renminbi at the time, these certificates were not freely interchangeable with standard Chinese banknotes and could only be used in designated shops, hotels, and locations.

The obverse of the 1 Yuan Foreign Exchange Certificate features a calm lakeside scene with traditional stone pagoda structures set against a mountainous backdrop. The design is finely engraved in green and blue tones and includes Chinese text identifying the issuing authority and denomination. Decorative guilloché patterns and security detailing reflect the formal style of late-1970s Chinese banknote design.

The reverse of the certificate is printed in English and clearly states its function as a “Foreign Exchange Certificate” issued by the Bank of China. The text explains that the certificate is equivalent in value to the Renminbi yuan, but restricts its use to China only, reinforcing its purpose as a controlled monetary instrument rather than general legal tender.

Foreign Exchange Certificates were officially withdrawn from circulation in the mid-1990s as China liberalised its currency system and unified domestic and foreign exchange usage. Today, these notes are classed as withdrawn and legacy currency and are no longer accepted within China.

• Indicate the quantity of 1 Chinese Yuan Foreign Exchange Certificates you want to exchange

• Click the ‘Add to your account’ button

• Your online account now shows the exchange value

If you are looking to exchange withdrawn or historic Chinese currency, including Foreign Exchange Certificates, we provide a secure and specialist UK service. Many banks no longer accept legacy Chinese notes, but we regularly handle older and discontinued issues for individuals, charities, and businesses.

For higher-value or bulk submissions, valid identification may be required to comply with Anti-Money Laundering Regulations (AMLR).