Chengdu police ferret out counterfeit money operation

Chengdu (CNS) -- Police in the capital of southwest China's Sichuan Province recently ferreted out a horde of raw materials to be used in counterfeiting RMB denominations, according to the Chengdu Public Security Bureau on Thursday. The People's Bank of China later confirmed the materials were for forgeries valued at one billion yuan.

City police spent two years investgating the crime, which involved a manufacturing factory in Sichuan and an "issuing" company in south China's Guangdong Province.

The "milestone" case made by the cooperating police departments in Sichuan, Guangdong and southeast China's Fujian Province has been filed, and is in the review process for prosecution.