The People's Bank of China has issued a new banknote with a denomination of 11 renminbi. The new note is designed to match the minimum fare on taxis in the city. Businessman Li Xiaoxia said he was delighted by the news. "At last I won't have to hunt around my wallet for that extra one kuai. This will really make my life easier."

Eight of the notes will make 88 kuai, a lucky number in Chinese culture, making the new bill ideal for paying the mai dan or as a gift.

The note will incorporate several innovative security features. On the reverse of the note Mao Zedong will be sitting in a holographic Dazhong taxi. Holding the note up to the light will cause a recorded sound to be played: "Wu qi, wu qi, wu qi qi qi! wo chi, wo chi, wo chi chi chi!"