The distribution process is roughly divided into four steps. The first step is for the People's Bank of China to put forward relevant plans; The second step is to ask the State Council for approval; The third step is to allocate the issuance funds after approval; The fourth step, the major banks receive and pay cash, and then make deposits and withdrawals from units and individuals.
1. China Banknote Printing and Minting Corporation is responsible for printing money, and it has dozens of mint companies. When the People's Bank of China completes the coin minting plan, the banknote printing company will mint coins. Everyone is familiar with the early days, such as Shanghai Mint, Shenyang Mint and Nanjing Mint.
When the first set of RMB was made, because there was no unified plan, large bills appeared, with the highest denomination of 50 thousand. The versions and patterns of mints vary from place to place. It is said that there are more than 60 different schemes for the first set of 12 denomination. By the second set, the unification was gradually completed and the denomination was gradually determined.
2. The first step in the issuance process is the People's Bank of China, whose main responsibility is to manage the currency and put forward the plan for formulation, issuance and recovery. After the proposal is put forward, it will be submitted to the State Council for trial; The second step is the approval of the State Council, and the plan will be implemented after it is confirmed that there is no problem; The third step is to make money and allocate issuance funds. First distributed to local people's banks, and then flowed into the market by commercial banks.
It's easier to issue when you get to a commercial bank. At present, there is no compulsory recovery policy. Generally, it is recovered and distributed through the process of deposit withdrawal. Before we know it, we can get new coins.
There are two kinds of currency issuance, one is normal issuance, which is called economic issuance. This is to meet the circulation of commodities and conform to the laws of the market. The second is fiscal issuance, which is simply to make up for the deficit. Because only the outflow does not return, the inflation currency depreciates.
The second situation exists, but it can only be adopted in a special period, and the right to issue money belongs to the state. The People's Bank of China must obtain the approval of the State Council when making plans. Generally speaking, according to the specific situation, in order to better develop, financial issuance will be compulsory.