Home / Business / Macro

PBOC issues commemorative coins for navigation system

Xinhua | Updated: 2013-01-30 17:02

BEIJING -- China's central bank has issued a set of two commemorative coins marking the official launch of the BeiDou Navigation Satellite System, or BDS, last December.

The set includes one gold and one silver coin, both of which are fiat money of the People's Republic of China, according to the People's Bank of China.

The coins both feature a variety of decorative elements, including the national emblem, images of satellites and binary codes.

The PBOC will issue 30,000 gold coins with a face value of 150 yuan ($24.08) and 60,000 silver coins with a face value of 10 yuan.

The BDS was developed by the government in order to take a share of the GPS-dominated domestic navigation market. The first BDS satellite was launched in 2000.

The system went into official use on Dec 27, 2012 following a trial period that began in 2003.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349