Countries are outsourcing currency printing to keep costs down. And China is taking advantage of this opportunity to expand its global influence. This is part of the ‘Belt and Road Initiative’ (BRI). Chinese media, South China Morning Post stated that “money production plants were running at near full capacity to meet an unusually high quota set by the government.”
Reports further say that the countries – Nepal, Thailand, Bangladesh, Sri Lanka, Malaysia, Brazil, Poland seeking printing services were also participating in the BRI. Through the BRI, China is looking at expanding maritime routes and land infrastructure networks connecting the nation with Asia, Africa, and Europe, boosting trade and economic growth.
As far as the quality of the notes is concerned, client countries are very much impressed. A Xinhua report states that the Nepalese Central Bank executive director, Bhuban Kadel was utterly impressed by the quality of the notes.
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Its further stated that “China is able to provide security features such as embedded thread, metallic ribbon and color-shifting ink at a relatively low cost.” According to the South China Morning Post, “China is the only country that has the capacity to perform Intaglio or raised printing simultaneously on both sides of a bank note.”
Zhongchao Special Security Technology, a subsidiary of China Banknote Printing and Minting Corporation (CBPM) is the world’s biggest supplier of security features for bank notes.