The Hong Kong Monetary Authority (HKMA), and the three note-issuing banks (NIBs) – Standard Chartered Bank, Bank of China and Hongkong and Shanghai Banking Corporation – announced today the designs of the new series of 2018 Hong Kong banknotes.
Consistent with current notes, the new series will consist of five denominations that adopt the existing colour scheme. For the first time the thematic subjects on the reverse side of each of the NIBs’ new series banknotes will be standardised for each denomination.
The selected thematic subjects encompass different aspects of Hong Kong as an international metropolis as well as its rich natural and cultural heritage. The five denominations depict respectively the position of Hong Kong as international financial centre (HK$1,000), the spectacular Hong Kong UNESCO Global Geopark (HK$500), Cantonese opera as our art and cultural legacy (HK$100), butterflies that inhabit Hong Kong (HK$50), and the popular dim sum and tea culture (HK$20).
For ‘aesthetic presentation’ and easy distinction from previous series, the reverse side of the banknote are in a vertical orientation instead of the traditional horizontal layout.
The HK$1,000 and HK$500 notes will enter circulation in the last quarter of 2018 and early 2019 respectively, and the lower denominations – HK$100, HK$50 and HK$20 – will be released in batches between 2019 and 2020.
To enhance protection against counterfeiting the new banknotes have six advanced security features:
- Dynamic shimmering pattern – when the note is tilted, the shimmering ring in the pattern moves correspondingly.
- Windowed metallic thread – when the note is tilted, the large and small rings on the metallic thread move correspondingly.
- Enhanced watermark – the theme of the bauhinia flower is used such that the flower, leaves, bud and denomination numeral can be seen when the note is held up to the light.
- Fluorescent see-through denomination – the patterns on the front and back, which are of a single colour under normal light, will appear as two fluorescent colours when exposed to ultraviolet light. The patterns on the front and back fit perfectly to form the denomination numeral when the note is held up to the light.
- Concealed denomination – when the note is tilted under the light, the denomination numeral hidden in the background can be seen.
- Embossed feel – raised printing gives the note a strong embossed feel by touch.
Various accessibility features such as braille and tactile lines will enable people with visual impairments to differentiate the denominations. The HKMA has also sponsored the Hong Kong Society for the Blind to develop a mobile application that uses a phone’s camera to identify a banknotes denomination and read it out for the user.
Mr Norman Chan, Chief Executive of the HKMA, said, “Similar to other places, we will at appropriate intervals introduce a new series of banknotes for the purpose of adopting the latest banknote printing technology, thus making it difficult for counterfeiters to imitate or replicate our banknotes.”
Mr Chan continued, “On top of carrying state-of-the-art security features, the unified thematic subject presented in a vertical layout for each denomination of the banknotes across the three NIBs makes the new series distinctive from the previous one and a good representation of the local culture of Hong Kong. ”
Ms Mary Huen, Chief Executive Officer of Standard Chartered Bank (Hong Kong) Limited, said, “The design of Standard Chartered’s 2018 Hong Kong Banknotes Series pays tribute to the ‘Hong Kong Spirit’.
Each banknote reflects a unique attribute of Hong Kong people – Wit and Wisdom, Resilience and Perseverance, Inheritance and Innovation, Better Together, and Sharing and Caring. When the five banknotes are put together, their backgrounds form a silhouette of the Lion Rock.”
Mr Gao Yingxin, Vice Chairman and Chief Executive of Bank of China (Hong Kong) Limited, said, “We are proud of the many achievements and unique charms of this world-class metropolis.
Our new series of HKD banknotes depicts the city’s attractions and reflects our close affinity with Hong Kong people while expressing our vision of building an even brighter tomorrow together.”
Mr Peter Wong, Deputy Chairman and Chief Executive of The Hongkong and Shanghai Banking Corporation Limited (HSBC), said, “The new series of HSBC banknotes are the first to use watercolour painting in the history of Hong Kong banknotes, giving vitality to imagery that highlights the facets of life in Hong Kong. Hong Kong has always been defined by its people’s shared values of hard work and entrepreneurialism, as well as its sense of family and community.
Over the past 153 years, we have stood with Hong Kong people through tremendous change and worked with them to build the city’s prosperity. We hope that people holding our banknotes in their hands will feel the same connection to Hong Kong’s community and heritage as we do at HSBC.”
All existing banknotes will continue to be legal tender. They will continue to be in circulation alongside the new banknotes, and will be gradually withdrawn as appropriate in due course.
Additional reporting: HKMA