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Hong Kong banknotes in everyday circulation are $10, $20, $50, $100, $500 and $1,000. In 2002, the HKSAR Government issued a new ten dollar note in recognition of a continuing demand among the public for a note in addition to the coin. The existing $10 notes issued by two note-issuing banks remain Legal Tender , but they are no longer printed. The one-cent note issued by the Government was demonetised and ceased to be legal tender on 1 October 1995 . The total value of banknotes in circulation in Hong Kong can be found in Monthly Statistical Bulletin and the Annual Report . NOTE-ISSUING BANKS The Government, through the Hong Kong Monetary Authority, has given authorization to three commercial banks to issue currency notes in Hong Kong:
Authorisation is accompanied by a set of terms and conditions agreed between the Government and the three note-issuing banks. Banknotes are issued by the three banks, or redeemed, against payment to, or from, the Government Exchange Fund in US dollars, at a specified rate of US$1 to HK$7.80 under the Linked Exchange Rate system. Banknotes issued by the three commercial banks are printed in Hong Kong by Hong Kong Note Printing Limited . NOTE PRINTING In April 1996, the HKMA acquired the note printing plant at Tai Po from the De La Rue Group of the UK on behalf of the Government. The plant has been operating under the name of HKNPL since then. The acquisition of the plant enables the Government, through the HKMA, to be directly involved in the production of Hong Kong currency notes, which is in line with the responsibilities conferred upon the Government under the Legal Tender Notes Issue Ordinance and the Basic Law. In March 1997, the Government sold 15 per cent of its shareholding in HKNPL to the China Banknote Printing And Minting Corporation , a PRC state-owned enterprise. In October 1997, the Government sold 10 per cent of HKNPL issued shares to each of the three note-issuing banks. The Government continues to exercise management control and maintains a majority stake in HKNPL, with the Chief Executive of the HKMA as the Chairman of the company. BANKNOTES CURRENTLY IN CIRCULATION HISTORICAL DENOMINATIONS OF HONG KONG BANKNOTES NO LONGER CIRCULATED BY THE HKMA SECURITY FEATURES The following security features are incorporated in genuine Hong Kong banknotes:
In pursuance to section 103 of the Crimes Ordinance (Cap 200 of Laws of Hong Kong), anyone who wants to reproduce the whole or any part of any Hong Kong currency note for any purpose in any form must apply in writing to the Monetary Authority for approval. No reproduced images should be submitted with the application because such an action would already amount to a breach of section 103 of the Crimes Ordinance. It is a criminal offence under the Crimes Ordinance to manufacture or knowingly pass, tender or possess a counterfeit banknote. The offence carries a maximum penalty of 14 years imprisonment. Adopted from the official website of Hong Kong Monetary Authority . Permission granted. |
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