CBDrama

China is still, for the most part, a cash society.  While credit card usage is steadily on the rise, most people make purchases using cash.  Recently when I made the decision to leave my hutong, I had to pay the first few months rent for my new place in cash, requiring me to go to the bank and remove RMB20,000 in RMB100 bills. 

20 years ago, RMB100 would go a long way, today, there are bars and clubs where RMB100 is barely enough to buy a single drink, requiring you to carry a huge wad of cash.  Sure, most places take credit cards, but if you only have an atm card, it requires you taking the "walk of shame" up to the cash register to enter your pin number. 

Please, those at Financial Street who have pull with the Bank of China, the nature of the Chinese economy has changed massively, it's time for an RMB500 bill!