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Notes and Coins of Hong Kong Notes The Government, through the Hong Kong Monetary Authority (HKMA), has given authorization to three commercial banks, The Hongkong and Shanghai Banking Corporation Limited, the Standard Chartered Bank (Hong Kong) Limited, and the Bank of China (Hong Kong) Limited, to issue bank notes in Hong Kong (click here to see chart on proportion by value). Authorization is accompanied by a set of terms and conditions agreed between the Government and the three note-issuing banks (NIBs). Bank notes 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. Bank notes issued by the three commercial banks are printed in Hong Kong by Hong Kong Note Printing Limited (HKNPL).
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 NIBs. 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.
Notes in everyday circulation are $10, $20, $50, $100, $500 and $1,000. The $20, $50, $100, $500 and $1,000 notes are issued by the three note-issuing banks. For the $10 notes, there is a paper note issued by the Government in 2002 in recognition of a continuing demand among the public for a note in addition to the coin and a polymer note issued by the Government in 2007 to assess the performance and acceptability of polymer notes in Hong Kong. The $10 notes issued by two note-issuing banks in the 1990's remain legal tender, but are no longer printed. The total value of notes in circulation in Hong Kong can be found in the latest Monthly Statistical Bulletin and Annual Report.
Reproduction of Hong Kong currency notes for advertising or other purposes In pursuance to section 103 of the Crimes Ordinance (Cap 200 of the 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 amount to a breach of section 103 of the Crimes Ordinance. If the Monetary Authority gives approval for the reproduction, the views of the relevant note-issuing bank should also be sought, in case the reproduction would in any way infringe its copyright.
How to find out whether a note is genuine The following security features are incorporated in Hong Kong currency notes: Paper notes
The substrate is made of 100% cotton fibre, which does not fluoresce under ultra-violet light.
Watermarks are incorporated during the paper manufacturing process. They can be viewed equally well from either side of the note. The images are multi-toned and sharp, and do not show up when placed under ultra-violet light.
A metal
thread with
holographic images is embedded in the paper. Ten-dollar polymer note
A see-through window with a numeral 10.
A watermark-like image of the bauhinia flower integrated into the clear window.
The colour of the ribbon on the clear window changes between
pink and purple when the note is tilted or examined against
light and dark backgrounds. Paper and polymer notes
When the note is held up to the light, the specially designed colour patterns printed on the front and back will be seen to be exactly aligned with each other.
The main images of the notes are printed by an intaglio printing process which deposits a large quantity of ink on the notes thus giving the note an embossed feel. The fine lines of these images are clear and sharp. It is a criminal offence under the Crimes Ordinance to manufacture or knowingly pass, tender or possess a counterfeit note. The offence carries a maximum penalty of 14 years imprisonment. If you come across a counterfeit note, you should report the matter to the nearest police station.
Ten Dollar Notes issued by the Government
Updated on 20 April 2009
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