Email this article news.gov.hk
Speech by FS at Standard Chartered Bank 150th Anniversary Commemorative Banknote Launch Ceremony (English only) (with photos/video)
************************************************************

     Following is the speech by the Financial Secretary, Mr John C Tsang, at the Standard Chartered Bank 150th Anniversary Commemorative Banknote Launch Ceremony held at the Hong Kong International Trade and Exhibition Centre today (September 8):

Peter (Sands), Jaspal (Bindra), Ben (Hung), Distinguished Guests, Ladies and Gentlemen,      

     Good afternoon.

     Thank you for inviting me to share this memorable occasion with Standard Chartered Bank.

     I also attended the Bank's 150th Anniversary celebration in April ¡V so perhaps it is time to open an account.

     A century and a half of history in Hong Kong is a remarkable achievement, and certainly worth commemorating with a unique banknote.  Indeed, it is the world's first and only $150 commemorative note.  So, spend it wisely.  Or save it and not spend it at all.

     It is difficult to imagine what life would have been like in Hong Kong back in 1859. But I'm sure the "Barren Rock" that so disappointed Captain Charles Elliot a few years earlier [1841], would still have been fairly barren. However, Chartered Bank ¡V as it was back then ¡V certainly saw the city's potential, even if Captain Elliot had not.

     By coincidence, in London in 1859, Charles Dickens published his novel, A Tale of Two Cities.  The story begins with the memorable line that has been recalled often during the economic difficulties of the past year or so.  Of course, Dickens was referring to the challenges and opportunities of the French Revolution, rather than a global financial crisis.

     The title of Dickens' book was also adapted by the editors of TIME Magazine last year for an article titled "A Tale of Three Cities".  You may recall that the article coined the phrase "Nylonkong" to describe the connectivity between major financial centres of New York, London and Hong Kong in this era of globalisation.  I wonder what Dickens would make of that if he were alive today.

     The point is, over the past 150 years Hong Kong has evolved into a global financial centre and Standard Chartered Bank has been there every step of the way.

     Among other things, Standard Chartered is our oldest note-issuing bank, and remains one today, a legacy that stretches the span of Hong Kong's history.

     Over the years, the bank's notes have changed, and so have its services, technology and community involvement.  It has kept pace with the times.

     I commend Standard Chartered on its commitment to Hong Kong during the best and worst of times and its contributions to the community.  That includes donating net proceeds from sales of the commemorative banknote to local charities.

     I congratulate Standard Chartered on the launch of this special banknote.  I also wish the bank continued success in Hong Kong.

     Thank you.

Ends/Tuesday, September 8, 2009
Issued at HKT 19:26

NNNN

Photo Photo Photo
Print this page