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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announces today (May 16) that the Coin Collection Programme will be extended for another two years up to September 2018 when the pilot period ends in September this year.
Since the launch of the Programme, it has been well received by the public and is considered an innovative and environmentally friendly scheme to enhance the circulation of coins. It is the world's first structured coin collection scheme using a mobile approach and provides a channel for the public to get value for their coins in addition to the existing banking system. The coins collected are re-circulated to meet public demand, making circulation more efficient and reducing the need for minting new coins.
Two "Coin Carts" will continue to collect coins from members of public in the 18 districts of Hong Kong on a rotation basis and free of charge. Under normal circumstances, each Coin Cart will stay at a location for a week, subject to availability of the parking space and the maintenance schedule of the Cart. Service hours will be from 10am to 7pm. Each vehicle is equipped with two coin counting machines and operational staff will be present to provide assistance. An electrical wheelchair lift is available for use. Users can choose to exchange coins for banknotes or adding value to Octopus card. There is also a Community Chest donation box inside each vehicle.
From the start in October 2014 to April 2016, the two Coin Carts had served 180,000 people, collecting 154 million coins with a total face value of $174 million.
A new service schedule of the two "Coin Carts", for the period of June 20 up to August 21, 2016, has also been released today. The coin collection schedule and other details about the Programme are shown on the HKMA website (coincollection.hkma.gov.hk). The HKMA will update the schedule from time to time to give advance notice to the public.
Ends/Monday, May 16, 2016
Issued at HKT 16:30
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