Hong Kong approves trial issue of a10 dollar polymer

15-Mar-07

The government of Hong Kong Special Administrative Region (HKSAR) has approved issue for trial ten dollar polymer note to circulate simultaneously with the existing ten dollar paper notes and coins, both of which will remain legal tender. The cost for producing one polymer banknote is up to 40% higher than a paper note. The ten-dollar polymer note will resemble the existing ten-dollar paper note issued by the HKSAR government, except for changes to cater for new security features specific to polymer substrate. The new note incorporates four new visible security features specific to polymer notes, including a clear window with a numeral 10, and a watermark-like image of the bauhinia flower, integrated into the clear window. This trial run aims to find out whether polymer notes are suitable for issue in Hong Kong and their acceptability in the local community. Polymer notes are known to be cleaner, more durable and more secure. They are also more environmentally friendly, since they last longer and can be recycled for other use. The polymer note is expected to be available for circulation in Hong Kong around mid-2007 and will be released gradually to ensure the smooth co-circulation of polymer and paper notes.