China is about to issue a new version of its 5-yuan banknotes.

Beijing, July 9, 2020 (Xinhua) -- The central bank announced Wednesday that it will issue the 2020 version of the 5-yuan banknotes of the fifth series of the renminbi, the Chinese currency, starting November 5.

A statement published on the website of the People's Bank of China (the central bank) said the new five-yuan banknote has enhanced anti-counterfeiting features and better printing quality.

The release follows an update to the 2019 banknote series, which includes new 50, 20, 10, and 1 yuan notes and 1, 0.5, and 0.1 yuan coins. The fifth series of the renminbi has now been fully updated, according to the central bank.

The fifth series of the Renminbi was released in 1999.