BOC, SCB to Issue New Banknotes in Hong Kong

The Bank of China (BOC) and Standard Chartered Bank (SCB) will issue the new banknote of 1,000 HK dollars (128 U.S. dollars), which will begin circulation on June 20, announced the Hong Kong Monetary Authority, the BOC and the SCB Tuesday.

The BOC and SCB banknote of 1,000 HK dollars will bear the new security features, following similar security features in the Hongkong and Shanghai Banking Corporation Limited (HSBC) 1,000- dollar note announced in December 2000.

As with the HSBC 1,000-dollar notes, these notes will carry three additional security features, namely, a clearly visible holographic windowed thread, a highlight watermark showing the number '1000' and fluorescent fibers in red, blue and green embedded in the banknote paper, visible under ultraviolet light.

The enhanced 1,000-dollar notes, which bear the issue date of January 1, 2001, retain the same layouts and color schemes of the existing banknotes of the respective banks.

Liu Jinbao, general manager of the BOC Hong Kong Branch, said, "The three new security features we have just introduced will certainly increase the overall banknote security, obtain greater recognition and support from the public."

Peter Wong, chief executive and general manager of SCB Hong Kong, said Standard Chartered Bank which first issued banknotes in Hong Kong in 1862, has a history of close to 140 years in note issuance.

With the longest history of issuing banknotes in Hong Kong, Standard Chartered is very concerned about counterfeiting, he said, adding that the new enhanced security features are added to help deter such activities and these features are easily identifiable.

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