BEIJING: The People's Bank of China announced on Tuesday that it will begin issuing a set of commemorative coins in celebration of the upcoming New Year. The set of three legal tender coins includes one gold coin, one silver coin, and one two-color copper alloy coin, according to a statement from the central bank.

The obverse of the gold and silver coins, with denominations of 10 yuan (USD 1.57) and 3 yuan, respectively, features the national emblem. According to the statement, the coins' reverse side is inscribed with the Chinese character "Fu," which represents happiness and good fortune, and is decorated with a variety of Chinese traditional festive designs such as plum blossoms and house eaves.

According to the People's Bank of China, the two-color copper alloy coin, with a denomination of 10 yuan, depicts a tiger with elements of traditional Chinese paper-cutting patterns and new year prints.

The silver coin, which has a pattern similar to the gold coin, contains eight grammes of 99.9percent  silver and has a denomination of three yuan (about USD 0.47). Unlike the gold coin, the silver coin is engraved on the reverse with the Chinese characters "Ren Yin," symbolising the Year of the Tiger. The obverse of the copper-alloy coin features China's country name, the denomination of 10 yuan, and the year 2022, while the reverse features a tiger, the Chinese characters "Ren Yin," and other Chinese elements.

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