A portrait of late Chinese leader Deng Xiaoping is seen on the front side of a fake 500-yuan note.[Photo source: Xinhua]

The Fuzhou Branch of the People's Bank of China (PBOC) in southeastern Fujian province Wednesday denied that the country's central bank had any plan to issue 500-yuan RMB banknotes.

The denial by We Guoqi, a senior official of PBOC's Fuzhou Branch, came after an online rumor that the country's central bank decided to issue China's first ever 500-yuan banknote in November, according to the Straits Metropolis News.

An online post quoted by the newspaper was reported as the source of the rumors. Carried together with the post are two pics, whose authenticity the report did not specify, with one showing that late Chinese leader Deng Xiaoping is printed on the face side of a fake bill and a stream and valley landscape on the back side of it.

"Until now, we have not received any notice from the central Bank about the issuance of 500-yuan notes, said Wei. "The rumors on the internet are in fact groundless."

A picture of a stream and valley landscape appears on the back of a fake 500-yuan note. [Photo source: Xinhua]