10 Fen Chinese Foreign Exchange Certificate (1979)

Exchange 10 Fen Chinese Foreign Exchange Certificates issued in 1979. Secure UK service for withdrawn and non-circulating Chinese banknotes.

The 10 Fen Chinese Foreign Exchange Certificate, first issued in 1979, formed part of a specialised currency system introduced by the Bank of China during a period of strict foreign exchange control. These certificates were created specifically for use by foreign visitors, diplomats, and overseas Chinese, operating alongside — but separately from — the standard Renminbi currency.

Foreign Exchange Certificates (FECs) were denominated in yuan and fen and were officially stated to be equal in value to Renminbi. However, they were not legal tender for general circulation and could only be used in designated hotels, shops, and venues authorised to accept foreign currency instruments. This dual-currency system remained in place until economic reforms in the late 1980s and 1990s led to the gradual withdrawal of FECs.

Design and appearance

Front (obverse):

The front of the 10 Fen Foreign Exchange Certificate features a finely engraved natural landscape scene, commonly depicting a waterfall surrounded by trees and mountainous terrain. This imagery reflects traditional Chinese landscape art and symbolises natural harmony. The denomination “0.10” is clearly shown, alongside Chinese characters identifying the note as a Foreign Exchange Certificate. Decorative geometric border patterns, serial numbering, and an official red seal issued by the Bank of China complete the design.

Back (reverse):

The reverse is printed primarily in English, clearly identifying the note as a Bank of China Foreign Exchange Certificate. The text explains that the yuan or fen expressed is equivalent in value to Renminbi yuan, but that the certificate may only be used within China at designated locations. The denomination “TEN FEN” and “0.10” appear prominently, framed by ornate engraved borders typical of late-1970s currency printing.

Legal status and circulation

Although these certificates carried an official stated value, they were never intended for free domestic circulation. The 10 Fen denomination was primarily used for small purchases within approved outlets serving foreign visitors. Foreign Exchange Certificates were formally withdrawn as China unified its currency system, and they are no longer valid for use or circulation today.

As a result, many banks no longer accept Foreign Exchange Certificates due to their withdrawn status and specialist nature. However, they remain commonly presented for exchange through specialist services experienced in handling legacy Chinese currency.

How to exchange your note

• Indicate the quantity of 10 Fen Chinese Foreign Exchange Certificates you want to exchange

• Click the ‘Add to your account’ button

• Your online account now shows the exchange value

Exchanging withdrawn Chinese currency

We provide a secure UK-based service for exchanging withdrawn and non-circulating Chinese currency, including Foreign Exchange Certificates issued in 1979. These notes are routinely handled for individuals, charities, and businesses, even where high-street banks are unable to assist.

Rarer or less commonly encountered notes may require additional authentication checks. This can result in longer processing times, particularly for low-denomination or early Foreign Exchange Certificates, but it helps ensure accurate verification and secure handling throughout the exchange process.