Police point to an unwelcome side effect of the increase in mainland visitors
The number of fake yuan banknotes being found is on the rise, coinciding with increased circulation of the currency in Hong Kong.
The latest police figures show that 1,380 fake yuan notes were discovered last year, 34 per cent more than the 1,029 counterfeits found in 2002.
Chief Superintendent Wong Fook-cheun, head of the Commercial Crime Bureau, said: 'Given the rise in the popularity of the use of renminbi in Hong Kong and the number of [mainland] visitors to Hong Kong, such an increase is inevitable.'
He said most of the counterfeit yuan was found in the possession of money changers.
To combat the problem, Mr Wong said police had been briefing companies that accept yuan, and would continue to conduct intelligence-led operations to crack down on the counterfeiters.
Police figures also reveal that 15,883 fake Hong Kong banknotes were found last year, 18 per cent less than the 19,471 counterfeit banknotes discovered in 2002. Most of the fake banknotes were found in banks. The rest were seized in police raids or discovered as they were being circulated by counterfeiters.
