I understand that there is some new banknotes being issued without Mao's face on them......

I wonder if it is because the legacy of Mao is fading and those now in power wish to make their own "mark" in China's history or whether it is because China is becoming a major player in the world economy and it's more PC (or PR) to drop him from the currency as they leap forward into the world areana?

They are printing 6 million banknotes to celebate the Olympic Games.
I don't think the legacy of Chairman Mao will ever fade from China.It was too big a thing when he was in power.

Dave and Wu Ming