New banknotes are expected to start circulating in Hong Kong later this year. The Hong Kong Monetary Authority said yesterday the notes were now being printed and were due to be introduced by HSBC, Standard Chartered Bank and the Bank of China. An HSBC official said it was understood that the new series of notes would feature a redesign of all the existing notes in circulation apart from new $10 note which was issued last year. The redesign would feature the $1,000 note which was updated with additional security features in 2000. Additional security features will also be included in the new notes. A spokesman for the authority said the introduction of new notes was part of a continuing drive to review the features and design of banknotes in Hong Kong. A comprehensive review of banknote designs was carried out in 2002. A Standard Chartered Bank spokesman said some of its new notes were still being designed. The Hong Kong government has intensified its efforts to thwart counterfeiters in recent years. Last September, it introduced the new $10 note in response to public demand. The new note was aimed at preventing forgeries of the old $10 bills, but counterfeit $10 coins soon became widespread.
