HK to issue new series of banknotes

Newly designed Hong Kong banknotes with enhanced anti-counterfeit features will be put into circulation at the end of the year, the Hong Kong Monetary Authority (HKMA) announced Tuesday.

The new series will consist of five denominations, each adopting the same color scheme consistent with the current series and incorporating state-of-the-art security features including: dynamic color-changing pattern, color-changing windowed metallic thread, standardized enhanced watermark, and fluorescent see-through pattern and serial number, according to HKMA.

The HKMA and the three note-issuing banks -- Standard Chartered Bank (Hong Kong) Limited, the Hongkong and Shanghai Banking Corporation Limited and Bank of China (Hong Kong) Limited -- Tuesday jointly unveiled the designs of two denominations: 1,000 HK-dollar and 500 HK-dollar banknotes which will be put into circulation in the last quarter of 2010 and early 2011, respectively.

The design of the remaining three denominations, 100 HK dollars, 50 HK dollars and 20 HK dollars, will be unveiled in 2011.

"For the past six years Hong Kong has seen a continuous decrease in counterfeit rate. Currently there is less than one piece of fake note in every one million pieces of notes in circulation," said Chief Executive of the HKMA Norman Chan, adding that there is a need to revamp the design of the banknotes and introduce latest available security features to minimize the risk of being counterfeited.

People with visual impairments will find the new banknotes easier to use as Braille and tactile lines have been added to help them differentiate the denominations. A new note measuring template will be made available through voluntary agencies serving the visually impaired community.

The new banknotes will be shown to the public at exhibitions held in different districts in Hong Kong before going into circulation.

An employee holds up the new HK$1000 banknote in Hong Kong, south China, July 20, 2010. Newly designed Hong Kong banknotes with enhanced anti-counterfeit features will be put into circulation at the end of the year, the Hong Kong Monetary Authority (HKMA) announced on Tuesday. (Xinhua/Liu Sui Wai)