BEIJING, Feb. 3 (Xinhuanet) -- China's central bank Tuesday announced that it will pay up to 1.5 million yuan (181,378 US dollars) for winning commemorative coins designs for the 2008 Olympic Games, which is to be held here in Beijing.

    Commemorative coins to be issued include one set of commemorative notes, eight ordinary commemorative coins and 31 precious commemorative coins.

    According the reward plan announced by the People's Bank of China (PBOC), the highest amount of 1.5 million yuan will go to the winning designer of a complete set of precious commemorative coins, with the designer of a complete set of ordinary commemorative coins to be paid 360,000 yuan (43,530 US dollars) and the designer of a complete set of commemorative notes to be paid 100,000 yuan (12,091 US dollars).

    The PBOC will also select five other excellent sets of candidate commemorative coins and their designers will be awarded 2,000 yuan (241 US dollars) for each design.

    Approved by the Organizing Committee of the 2008 Olympic Games, the PBOC is soliciting the designs for Olympic commemorative coins from organizations and individuals both at home and abroad from Oct. 28, 2003 to Feb. 16, 2004. Enditem