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The following is issued on behalf of the Hong Kong Monetary Authority:
As the Chinese New Year draws near, the Hong Kong Monetary Authority (HKMA) encourages the public to continue supporting the use of good-as-new notes, instead of brand-new ones, for lai-see. Good-as-new notes are perfectly suitable for use as lai-see, given that Hong Kong's currency notes are maintained at a high standard of cleanliness.
The HKMA started to promote the use of good-as-new notes for lai-see in 2006. Thanks to the support of the public and the note-issuing banks, the share of good-as-new notes issued in the run-up to each Chinese New Year has increased from 20 per cent at the outset to around 45 per cent in recent years.
The three note-issuing banks will start exchanging new notes on January 21. As in previous years, they will provide sufficient new and good-as-new notes to meet demand for notes.
Ends/Wednesday, January 8, 2014
Issued at HKT 18:14
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