Bank of China (Hong Kong) - Banknotes

Banknotes

Main article: Banknotes of the Hong Kong dollar See also: Macanese pataca

Although not a central bank, BOCHK issues banknotes in Hong Kong. Under present arrangements, most Hong Kong dollar notes are not issued by a central bank or monetary authority, but by three specially licensed commercial banks, these being the Bank of China, HSBC and Standard Chartered Bank (Hong Kong).

Bank of China started to issue Hong Kong dollar notes on 1 May 1994, under the name of "Bank of China Hong Kong Branch". Following the Bank's 2001 merger and restructuring, a new set of notes bearing the name "Bank of China (Hong Kong)" went into circulation in 2004. Under the Bank of China (Hong Kong) Limited (Merger) Ordinance, banknotes issued by the Bank of China prior to its merger remained legal tender and became the obligations of Bank of China (Hong Kong).

As one of the three note-issuing banks, BOCHK is also a rotating chairman of the Hong Kong Association of Banks, the main industry body of commercial banks in Hong Kong.