Guangdong police seize $20m of fake banknotes

Police in Guangdong province raided three sites producing fake banknotes and seized more than 127 million yuan ($20.57 million) in counterfeit currency, according to a senior police officer on Wednesday.

Also seized was sophisticated equipment including computers, film, scanners, pattern plates and many unfinished banknotes, said He Guangping, deputy director general of the Guangdong provincial department of public security.

"In addition, 57 suspects were detained," He told a press conference in the Guangdong provincial capital on Wednesday.

He said the crackdown dealt a heavy blow to banknote counterfeiting that used to be active in Guangdong, which borders the Hong Kong and Macao special administrative regions.

Two of the banknote production bases were in Jieyang and the other in Shanwei. Both Jieyang and Shanwei are coastal cities in the east of Guangdong.

Tang Wancheng, a Bank of China worker in Guangzhou's Tianhe district, said the crackdown on counterfeit money producers would help ensure healthy financial operations in the province.

"Fake banknotes have become an increasing problem for banks in Guangzhou in recent years," he told China Daily on Wednesday.

Du Haiwang, a taxi driver in Guangzhou, said the number of fake banknotes he receives has been reducing in recent months compared with several years ago.