Hong Kong issues plastic banknotes which are clean, durable and with high anti-counterfeiting technology

The Hong Kong Monetary Authority (HKMA) announced on the 12th that it will trial the issuance of a 10-dollar plastic banknote. Plastic banknotes are cleaner, more durable, and have higher anti-counterfeiting performance. Since their lifespan is longer and the material itself can be recycled, they align better with environmental principles. Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, stated that although the production cost of each plastic banknote would be higher, due to their longer lifespan, the annual cost of printing banknotes would decrease by approximately 40%. He emphasized that before the Special Administrative Government decides whether to introduce other denominations of plastic banknotes, it will fully evaluate the operation status of the new banknotes and the public's acceptance level.