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In 2013, Beijing launched the belt and road plan, a global development blueprint involving about 60 countries from Asia, Europe to Africa to stimulate economic growth with large-scale capital investment and infrastructure construction projects.

Two years later, China started printing 100-rupee notes for Nepal, Liu wrote in an article in China Finance, a bi-monthly journal run by China’s central bank in May.

Since then the company had “seized the opportunities brought by the initiative” and “successfully won contracts for currency production projects in a number of countries including Thailand, Bangladesh, Sri Lanka, Malaysia, India, Brazil and Poland,” he said.

But that could be just the tip of the iceberg. The actual number of countries that have or plan to outsource currency printing to China could be much bigger, according to one source in the corporation. Some governments have asked Beijing not to publicise the deal because they are worried such information could compromise national security or trigger “unnecessary debates at home”, the person said.

Read the full article here.