HomeInsideCoronavirus Outbreak: China cleans, locks away banknotes to stop virus spread

Coronavirus Outbreak: China cleans, locks away banknotes to stop virus spread

Reader's Pick

China is disinfecting and isolating used banknotes as part of efforts to stop the spread of the new coronavirus that has killed more than 1,500 people, officials said Saturday.

Banks use ultraviolet light or high temperatures to disinfect yuan bills, then seal and store the cash for seven to 14 days — depending on the severity of the outbreak in a particular region — before recirculating them, China’s central bank said at a press conference.

The virus, which has infected more than 66,000 people in China and spread to more than two dozen other countries, has sparked a rush to disinfect public places and minimise contact between people.

Pharmacies across the country sold out of disinfectants and surgical masks in just days after a lockdown was announced in late January on Wuhan city, where the COVID-19 illness is believed to have emerged.

- Advertisement -

Office buildings have installed packets of tissue in elevators that tenants are encouraged to use when pressing buttons, while ride-hailing company Didi exhorts drivers to disinfect their cars daily.

Fan Yifei, deputy governor of China’s central bank, said Saturday that banks have been urged to provide new banknotes to customers whenever possible.

The central bank made an “emergency issuance” of four billion yuan in new notes to Hubei province, the epicentre of the outbreak, prior to the recent Lunar New Year holiday, Fan added.

The measures are intended to “secure the public’s safety and health when using cash”, Fan said.

- Advertisement -

But it is unclear how wide an impact the central bank’s disinfection work will have, with increasing numbers of Chinese people preferring mobile payments over cash in recent years.

In 2017, nearly three quarters of Chinese respondents told an Ipsos survey they could survive a whole month without using more than 100 yuan in cash.

According to the World Health Organization, COVID-19 can be spread through contaminated objects in addition to droplets and direct contact with infected patients.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Logistics 4.0: Creating a value chain through smart interconnected technologies

Businesses are keeping up with the changing digital environment to stay competi...

Budget 2022-23: Technology, SaaS, AI & ML Sector Reactions

Technology market reaction on Budget 2022-23: As Finance Minister Nirmala Sitha...

Bitcoin Price Crash

Bitcoin crypto was launched in 2009. It was the beginning of the digital assets...