Year of the Rabbit 2023: demand for crisp bills and fancy lai-see envelopes grows in Hong Kong as in-person celebrations return
- All three note-issuing banks – HSBC, Standard Chartered and Bank of China – report stronger demand for new banknotes this year
- Demand for luxury lai-see envelopes is also higher during the first lunar new without social-distancing measures since 2020
Most major Hong Kong banks have reported an increase in the number of customers approaching them for new banknotes for use in lai-see envelopes this year, as people enjoy the first Lunar New Year since 2020 without social-distancing measures in place.
“I personally exchanged 20 per cent more in terms of the number of new banknotes this year than a year ago to prepare for more lai-see packets,” said Cherry Lai, a white-collar professional working in Central.
“I expect there will be more in-person client meetings and gatherings with friends and colleagues to celebrate the Year of the Rabbit, as it is the first time in three years we have no restrictions on banquets and dining at restaurants.”
The Post visited a number of branches of HSBC, Standard Chartered, Hang Seng Bank and Bank of China (Hong Kong), where the consensus is that the number of people getting crisp, new banknotes rose about 20 to 30 per cent this year.
HSBC, the city’s largest bank and one of its three currency-issuing lenders, saw a double-digit percentage increase in online bookings for banknote-exchange services during the two weeks leading up to the holiday.