Following is the transcript of remarks (English portion) by the Financial Secretary, Mr Henry Tang, at a media session after visiting an exhibition on ten-dollar polymer note at Lei Yue Mun Plaza this afternoon (June 15):

Reporter: Can you elaborate on whether you have plans to review the linked exchange rate and the ten-dollar polymer note?

Financial Secretary: As far as the linked exchange rate is concerned, it has served us well for over 20 years and we have no intention of reviewing it. It has proven itself in the last 20 years, so I have no plans to review it.

     Secondly, as far as the characteristic of this new polymer substrate $10 note is concerned, you will see from our display that there are a number of special characteristics. First of all, the counterfeit measures are very distinctive with that clear window as well as other anti-counterfeit measures. There are two other features that should be very welcome by Hong Kong people. One of them is that it's cleaner. The polymer substrate is much less porous than paper. It does not have the pores for other particles to imbed in them. If it ever gets dirty for whatever reason, you can actually wash it and dry it and it's as good as new. It's very easy to care for. Secondly, the community has rising aspirations as to environment aspects. The new polymer note is much more environmentally-friendly. Our normal paper bank notes when shredded would go to a landfill. In this case, because the polymer substrate have recyclable value so it can be made into other items, whether it is gardening tools or other things. It's environmentally more friendly.

(Please also refer to the Chinese portion of the transcript.)

Ends/Friday, June 15, 2007
Issued at HKT 17:17

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