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　　defective rmb

　　Rare wrong edition! 50 yuan RMB Watermark Inversion

　　After 15 years of collection by an old man in Lanzhou, this newspaper publicly displayed it for the first time. Experts said that its market valuation was 500,000 yuan.

　　The old man Zhu Canxiang of Lanzhou has a distinctive RMB in his hand. This 1990 version of 50 yuan RMB looks normal, but after careful identification, it will be found that the watermark of Chairman Mao on the front of the RMB is upside down. After identification by many bank staff, it is indeed a genuine RMB, but it is also a rare wrong version of RMB.

　　50 yuan RMB watermark is printed upside down.

　　In the early morning of December 3rd, the old man Zhu Canxiang, who lives in Heping New Village, Lanzhou City, came to our newspaper and showed the reporter a RMB numbered GS8790902 with a face value of 50 yuan that he had treasured for 15 years.

　　Although the 1990 version of RMB is rare in the market, it is not a rare thing to meet it. However, this piece of RMB in 50 yuan has kept Zhu Canxiang as a treasure for 15 years, and there must be something special about it. However, Zhu Canxiang, an old man, is not in a hurry to tell reporters the "mystery".

　　After careful identification by the reporter, it was found that this 1990 edition of 50 yuan RMB numbered GS8790902, like other versions with the same face value, has the heads of workers, peasants and intellectuals on the front and the Hukou Waterfall of the Yellow River on the back, but the difference is that the head of Chairman Mao is inverted like a watermark, and its position is higher than that of normal coins. The watermark of this coin is so different from the normal coin. Is it a counterfeit coin? However, Zhu Canxiang told reporters that no matter which bank he checks this banknote, the same result will appear: it is a real coin.

　　Verify that it is the wrong version of RMB.

　　In order to confirm the authenticity of this coin, the reporter and Zhu Canxiang first came to the business hall of Gansu Branch of Industrial and Commercial Bank of China that morning. After shaking out of thin air and flicking the face, the bank staff repeatedly put the coin into the money detector for verification, and confirmed to us that this coin is genuine. Subsequently, the reporter and Zhu Canxiang came to China Construction Bank, China Merchants Bank, commercial banks and other banks to verify this banknote. The results are the same, and the money is real!

　　In this regard, the bank staff told the reporter that this may be the wrong version of RMB. Since the coins have to go through seven strict checkpoints before leaving the factory, the probability of making mistakes is between one in a million and one in a million. Most of them are missing printing, white folding, corner folding, displacement, offset printing, dislocation, watermark inversion, watermark deviation, and so on. However, there are very few wrong version coins like this 50 yuan watermark inversion held by Zhu Canxiang.

　　A wrong coin has been treasured for 15 years

　　Where did this wrong coin come from? The old man Zhu Canxiang told reporters that this had to start from 1992.

　　At that time, Zhu Canxiang was still working in the Red Star Carton Printing Factory in Lanzhou City. At that time, the salary was directly discovered by the unit. Zhu Canxiang was very careful at ordinary times. After paying his salary, Zhu Canxiang verified the authenticity of these coins one by one. As a result, it was found that the 50 yuan RMB watermark numbered GS8790902 was inverted, but the texture and blind spots were normal. It is really hard to say whether it is true or not. I wanted to take it to the bank for verification, but because 50 yuan was not a small number in those days, I was afraid that the bank would confiscate it if it verified that it was counterfeit. So I asked an acquaintance who works in a bank to verify it. As a result, the other party told him that it was real money. At that time, he was dubious, and he went to several banks to verify it, all of which were the same result: this is a real coin.

　　The old man Zhu Canxiang said that since then, he has consulted relevant information and found that this is the so-called "wrong version of the coin", but because this kind of wrong version of the coin is rare, it is particularly precious. "Things are rare, and this kind of coin will definitely appreciate." Zhu Canxiang said that not long ago, he went to the Lanzhou ancient coin market and asked some collectors. The market price of the 1990 edition of 50 yuan’s watermark-inverted misprinted coins was estimated to be 500,000 yuan.

　　Experts remind you to identify the wrong version and go to the bank.

　　It is understood that in recent years, the collection value of RMB sets is getting higher and higher, but for many ordinary collectors, it is not easy to collect a whole set of brand-new RMB with excellent quality. Therefore, many collectors turn to collect wrong coins in order to obtain higher returns.

　　At present, the price of the wrong edition coins sold in the market is more than 300 thousand yuan, and the price of the inverted watermark coins is more than 500 thousand yuan. In this regard, experts from the Provincial Collectors Association said that due to the extremely rigorous review procedures of RMB issuance, the probability of wrong coins is not high, and from experience, there are not many real wrong coins on the market.

　　According to reports, the wrong coins that have appeared at present generally have watermark inversion, missing printing, white folding, corner folding and displacement. "Although it is normal that the wrong version of the currency is worth more than 100,000 yuan, it is not practical to price it too high. There are also a few lawless elements who use laser processing and other means to forge’ wrong coins’. " To this end, experts remind collectors that it is best to identify the wrong coins in a bank with professional identification standards to prevent being deceived.

　　Our reporter Lu Yan

　　Related links

　　Some wrong versions of RMB in China

　　In October 2002, Mr. Ma, who lives in Yinchuan Power Transmission and Transformation Family Hospital, accidentally got a 1990 version of RMB 100 with the number PL33902170. The watermark on it was inverted, but it passed the money detector and was identified as a wrong version of RMB.

　　In October, 2007, Mr. Liu, a citizen of Guiyang, collected the wrong version of RMB issued in 100 yuan in 1980. Mr. Liu’s wrong version of the RMB number is CU20361732, and the watermark of Chairman Mao is inverted.

　　In September, 2007, Ms. Li, a top student in Yantan, Lanzhou, received a blue 100-yuan RMB in 1990 when collecting money. The security line and watermark pattern of this RMB were upside down. After identification, it is the wrong version of RMB.

　　In September 2007, Ms. Cheng from Liaoning received a 1990 version of 50 yuan money, and the pattern on the back shifted up and down, which was extremely uncoordinated. Coincidentally, her neighbor, Sister Liu, also received a coin with a layout value of 100 yuan in 1990, which left a "1" missing and became "00" yuan. After identification, they are all wrong versions of RMB.

　　In July, 2007, Mr. Du from Xinxiang, Henan Province showed a wrong edition of RMB with the number XG48242185 in his collection. Watermarks overlapped under the anti-counterfeiting lamp and changed into "10,000" RMB notes. After identification, this 100 yuan RMB is genuine.

Editor: Li Xiuwei

Source: China Daily China Watch Think Tank

Introduction: From ancient times to the present, Chinese civilization has learned from others and nurtured excellent values that transcend history and keep pace with the times. Chinese culture pays attention to ideological integration, self-governance, inheritance and reference, seeking truth from facts, beauty and beauty, and integrates these elements into the way of governing the country. The rise of China will not pose a threat to other countries. On the contrary, it will promote broader security, promote greater development and help all mankind create a better future.

Author: Joseph Gregory Mahoney

(Josef Gregory Mahoney)

Executive Director, International Center for Political Studies, East China Normal University

Deputy Editor-in-Chief of China Journal of Political Science.

No civilization or culture in the world can draw nutrition from its own history completely; None of them can make progress completely according to their own ideas; No one can fully release the creative potential of the whole society and achieve complete social justice.

Marxist view of history holds that progress is achieved by actively solving contradictions. Resolving conflicts can produce the result of promoting progress, and to achieve social progress, we must first promote human liberation and social justice. However, social progress does not mean that the past history can be erased or forgotten; On the contrary, there are some ancient values that can transcend history. In China, the concepts of "harmony" and "great harmony" are such values, which are essentially interlinked with the concepts of modern socialism and communism. Driven by the concept of good governance, these traditional Chinese civilizations and cultural values are also advancing with the times.

One of the ways of the continuous development of these values is mutual integration, which has long been a feature of China’s traditional thought and Marxism’s China-learning from each other’s strengths and adapting to changes. To some extent, this explains why China’s Marxism not only emphasizes Confucian concepts such as "well-off", but also advocates the Taoist principle of harmonious coexistence between man and nature, and even opens the door to all outstanding achievements of western civilization and other civilizations in the past and present.

Image source: China Daily

From this, we can sum up five key experiences related to governance in the history of China.

The first lesson: ideological integration

China is the first country in the world to create a similar modern national model, which started in the Qin Dynasty and accelerated to maturity in the Han Dynasty. During the Han Dynasty, China integrated the legalist thoughts of the Qin Dynasty with Confucianism, and established a professional national system. The most important thing was to attach importance to good governance and the rule of law. These achievements predate other civilizations and countries by hundreds or even thousands of years. In short, whether as a civilization or as a national system, China has created a national culture to protect itself from disputes over the excessive expansion of the empire.

The second experience: self-governance

Mind your own business, or you risk being ruled by others. In this regard, it is an eternal theme to establish a self-governance system, constantly promote self-improvement, and even carry out radical self-revolution when necessary, but it is often a difficult problem. It is unwise to try to rule others, it will only erode your self-governance ability, thus endangering your own sovereignty and security.

Indeed, throughout the history of imperialism, have we not seen such lessons again and again? Moreover, we can draw another conclusion from the history of imperialist development: aggression and conquest of others often rely on technological innovation, such as a new weapon or new tactics, rather than China’s emphasis on governance innovation since ancient times. For example, Alexander the Great, the ancient Macedonian king, relied on his father Philip II’s powerful military power to March eastward to India, but he could not rule and control all the territories he conquered.

At a more fundamental level, why are imperialist countries, whether it is the ancient Roman Empire, modern Britain or modern America, ultimately doomed to decline? The answer is: on the one hand, they have never mastered the art of self-governance-they can’t even manage themselves well, let alone others. On the other hand, their motivation to control, exploit and even plunder others is often to make up for the defects of domestic self-governance and externalize their internal failures to others. For example, the concept of protecting private property rights is deified. However, in the "zero-sum" game environment, it is this "golden rule" that leads to the fundamental inequality between people becoming the norm.

Image source: Xinhua News Agency

The third experience: inheritance and reference.

We must learn from our own history and culture, otherwise we may lose ourselves completely. As Okakura Tenjin, a Japanese art critic and author of The Book of Tea, warned, since the Meiji Restoration in the late 19th century, Japan has hastily embarked on the road of total westernization. At the same time of comprehensive modernization and transformation, it has almost completely abandoned its traditional values and culture, leaving only a superficial thing.

Countries should base their own development on their own culture and values, otherwise they may, like Japan, first repeat the mistakes of western imperialist countries’ history of expansion and aggression, and then, when a new era comes, they will be unable to carry out reforms to meet new needs and fall into the middle-income trap and security trap again.

In addition, many problems in today’s era, such as climate change, pandemic of new infectious diseases and other increasingly severe survival risks, are caused by some wrong values and behaviors. If they are not screened, some countries may easily get caught up in them. Or they may wander around for decades in the post-colonial era, unable to express their true identity or build a truly effective governance system for themselves, because they don’t really know who they are and where they come from, and they are still vulnerable to more powerful external forces, including former colonists. They will cultivate a sense of insecurity in these countries and use this sense of insecurity to achieve the goal of continuing to control them.

At the same time, countries must learn from others and share what they have learned. China learned a lot from Marxism, Leninism and the so-called Fordism, and benefited a lot from the Enlightenment, the industrial revolution and even the development history of the global capitalist economy. But the most important thing is to treat these past experiences and lessons with a rational and dialectical attitude, put them in an appropriate position and background, and take the essence and discard the dross.

Image source: China Daily

Article 4 Experience: Seeking truth from facts

No matter what role culture and values can play in an ideal state, no matter what lessons we learn from the past, the Chinese governance model has a law that transcends history: everything must start from the material foundation. Material determines consciousness and foundation determines architecture, which is an important principle of Marxism and the first lesson I learned when I came to work in China in 2010. What you see, hear, say and do should be consistent with the actual situation. In this regard, the development and progress of China’s governance model, both domestically and internationally, both in the past and now, have confirmed the correctness of this sentence.

Article 5 Experience: Beauty and Beauty Together

A rising and well-governed China is not a threat to other countries, but the opposite. The stronger and more efficient China becomes, the more it can reflect on its own historical experience, the more it can understand its own limitations, the more it can embody the deep-rooted cultural value of good governance, and the more it can treat other countries cautiously and support their progress as much as possible, because only in this way can it ensure wider security and greater development and create a common future for all mankind. In the past ten years, we have seen such a trend in the rapid development of the "the belt and road initiative" initiative, which is the only logical way forward for a country like China that emphasizes good governance.

Image source: China Daily