Why is China burning money? Hint: It's not a metaphor

20 November 2015 - 10:36 By TimesLIVE
subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now
A truck carrying over 3 billion yuan (470 million US dollars).
A truck carrying over 3 billion yuan (470 million US dollars).
Image: CCTVNews via Facebook

Every year China produces over 6,000 tons of damaged paper money. 

You might be wondering where this money ends up? Well, the answer is that it is all burnt to generate electricity, CCTV news reported.

The notes are first shredded and then burnt with straw.

Zhu Hongwei, an employee at the company told China Radio International that the damaged paper money is a good material to generate electricity, as it has a high heat value and contains less moisture.

“Thirty tons of damaged money can generate 30,000 kWh of power. Assuming that each household consumes 100 kWh a month, the money we burn in one month can provide electricity for a household for 300 months,” said Zhu.

subscribe Just R20 for the first month. Support independent journalism by subscribing to our digital news package.
Subscribe now