The central bank – the People's Bank of China – recently issued a set of commemorative coins marking the centenary of the founding of Nankai University, officials announced.

They said that on Oct 10, the Issuance and Donation Ceremony of the Commemorative Coins for the 100th Anniversary of the Establishment of Nankai University was held at the school.

The set of coins includes one gold coin and one silver coin. Both are legal currency and 10,000 gold coins will be minted while 20,000 silver coins will be issued.

Nankai University is about to celebrate its 100th anniversary on Oct 17. It is only the third university, after Tsinghua University and the Central Academy of Fine Arts in China, that has been given permission to issue gold and silver commemorative coins for its centenary.

The features of the silver coin include the motto of Nankai University -- dedication to the public interest, acquisition of all-round capability and the aspiration for progress with each passing day.

Officials said Nankai University has also become the first university in China to adopt its school motto on its commemorative coins.

The golden coin, which is 22 mm in diameter, contains 8 grams of gold with 99.9% purity and has a face value of 100 yuan ($14.15). The maximum circulation will be 10,000 coins.

The reverse side of the coin features the name and crest of Nankai University. It is also inscribed in Chinese with the words "the 100th anniversary of the establishment of Nankai University" and in English "NANKAI UNIVERSITY CENTENARY CELEBRATION”-- along with "1949-2019" and the face value.

The silver coin, with a diameter of 40 mm, contains 30 grams of 99.9% silver and has a denomination of 10 yuan.

The maximum circulation will be 20,000 coins. The main building, motto and school bell of Nankai University are on the reverse side of the coin, together with the Chinese characters for “the 100th anniversary of the establishment of Nankai University”and in English: NANKAI UNIVERSITY CENTENARY CELEBRATION”together with the face value.

Among dignitaries attending the ceremony were Li Jing, vice president of Nankai University; Li Huifeng, deputy director of the Money and Banking Bureau of the People's Bank of China; Jing Jun, general manager of China Gold Coin Incorporation and Shao Junzhi, deputy general manager of China Gold Coin Incorporation.

Also attending was Wang Xiaoming, vice president of Tianjin Branch of People's Bank of China and other representatives.