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Hong Kong begins development of new series

The Hong Kong Monetary Authority has started the development of a new series of banknotes according to this interesting article in the South China Morning Post. The preparation for the new series will be finished in two to three years. 

"We have just started to prepare for the launch of a new series of banknote," [Monetary Authority chief executive Norman Chan Tak-lam] said at the printing plant. "We expect the whole preparation process may need two to three years as we need time to search for and buy the most advanced security features for the banknotes, while the three note-issuing banks would also need time for their designers to do the design.

 The Hong Kong government issues the city's HK$10 banknotes and allows the three note-issuing banks - HSBC, Standard Chartered and Bank of China (Hong Kong) - to appoint their own designers for banknotes denominated from HK$20 to HK$1,000."

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