Hundreds of people flocked to banks yesterday seeking new notes to fill lai see packets for the Lunar New Year, despite appeals from the Monetary Authority chief for them to use old notes to help the environment.
In Kwun Tong, a long queue formed outside the HSBC branch in Yue Man Square well before it opened. 'At least 400 people were queuing on both sides of the branch,' a staff member said.
Lam Woon-ping, 42, who brought $2,000 to change into new $20 and $50 notes, said she did not regard giving out red lai see packets as an environmental issue. 'It is about tradition,' she said.
Tai Boon, 74, said family interests had to take priority over the environment. 'I have a son and daughter, and a grandson and granddaughter. I give them red packets every year, and it will be the same this year,' he said.
By 11am, the branch had run out of new $20 notes, triggering a flood of complaints. Lee Gong Siu-ha, 50, said: 'I brought $8,000 cash for new $10, $20, $50 and $100 notes, but now I have no choice but to have more $100 notes.'
Last week the Monetary Authority's chief executive, Joseph Yam Chi-kwong, said the 300 million new banknotes printed just before the Lunar New Year posed an environmental threat.