China Banknote Printing and Minting Corporation (CBPM), a Chinese government-owned company, has emerged as a major player in currency note printing worldwide. This company boasts a massive setup that not only prints notes for various countries but also mints coins, and manufactures ink used in notes, paper, and thread. With over 10 large factories and more than 18,000 employees, CBPM is considered the most secure note-printing setup globally, ensuring strict control over the production process.
CBPM's scale surpasses that of similar setups in britain and America. The US Bureau of Engraving and Printing employs fewer than 2,000 people, while Britain's De La Rue has over 3,000 employees. Even India's currency note printing setup, which has grown significantly, falls short of CBPM's workforce. Germany's Giesecke and Devrient, another major player, also don't match the size of CBPM.
Established in 1984 primarily for printing Chinese currency, CBPM has expanded its operations exponentially over the years. As wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions became more prevalent in China, the demand for paper yuan notes decreased. To utilize its infrastructure efficiently, CBPM began accepting orders for printing notes from other countries. Today, many nations, including neighbouring countries of India, rely on CBPM for currency printing.
According to reports, CBPM serves almost all Asian countries that don't print their currency. These countries find CBPM's services cost-effective compared to other options, leading to a significant shift in currency printing operations to China.
