The Fuzhou Branch of the People’s Bank of China strenously denied rumors that a new 500 yuan bank note will be released in November this year.

Rumors of the new bank note, which were encouraged by fears of inflation, first appeared on a Fuzhou-based website. The netizen who pasted the news claimed that the new note also added an image of the purported new note, bearing a portrait of Deng Xiaoping, to the website.

Wei Guoqi, a senior official at the People’s Bank of China, declared “it's not true,”going?on to reveal that no formal notice about introduction of?any new bank notes had been received.

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www.ce.cn: 银行表示:发行"500元面值人民币"是谣言