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    Mar 06, 2015

    $22k of hidden cash goes up in smoke


    A COUPLE from central China's Hunan province accidentally burned 100,000 yuan (S$22,000) hidden in a stove in their kitchen.

    Hunan TV reported that Wang Bin, a labour contractor from Shaoshan, had borrowed money from relatives and friends so that he could pay his workers after the Chinese New Year.

    The couple put the cash in a plastic knitting bag and hid it in the stove, where they thought it would be safe. The stove was seldom used.

    However, Mr Wang's wife forgot about it and burned the money to ashes when she used the stove to boil water.

    For a damaged bank note to be exchanged, at least half of it has to be intact, according to the People's Bank of China.

    Before the banking industry took off in China, many people in the country used to put their money in every conceivable corner of their homes - including socks, shoes, pillows and walls - to hide them from thieves.

    Today, there are hundreds of thousands of bank branches all over the country, but there are still some who prefer to keep their money in their homes.