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Using good-as-new notes for lai-see

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 has been promoting the use of good-as-new notes for lai-see since 2006 to help protect the environment. 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 in 2006 to around 45 per cent in recent years.

     The three note-issuing banks will start exchanging new notes on January 30. As in previous years, they will provide sufficient new and good-as-new notes to meet demand for notes.

Ends/Tuesday, January 15, 2013
Issued at HKT 16:30


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