The E-Sylum:  Volume 10, Number 11, March 18, 2007, Article 24

HONG KONG TESTING POLYMER NOTES

In news from Hong Kong, "The Chief Executive in Council has approved 
to issue for trial a $10 polymer note, which is cleaner, more durable, 
secure and environmentally-friendly, in the middle of this year to 
circulate alongside the existing $10 paper notes and coins, both of 
which will remain legal tender.

"Financial Secretary Henry Tang said today the move aims to find out 
whether polymer notes are suitable for issue in Hong Kong and whether 
the community will accept them.

"Monetary Authority Chief Executive Joseph Yam said that the $10 polymer 
note will resemble the existing $10 paper note issued by the Government, 
except for changes to cater for new security features specific to polymer 
substrate.

"Mr Yam said: "Experience in countries which have introduced polymer 
banknotes indicates that the annual production cost for banknotes could 
be reduced by about 40% due to the longer lifetime of polymer notes 
despite a higher unit cost of production."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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