BOCHK Launches the Beijing 2008 Olympic Games Hong Kong Dollar Commemorative Banknote

Bank of China (Hong Kong) Limited ( BOCHK ) today (11 July) announced the launch of the Beijing 2008 Olympic Games Hong Kong Dollar Commemorative Banknote ( HKD Olympic Banknote ) denominated in HKD20. There is a total of 4 million pieces of the HKD Olympic Banknote to be available for public sale from July 16 to 31 at the 50 designated branches of BOCHK.

Proceeds generated from the sale of the HKD Olympic Banknote will be donated for charity cause. Beijing 2008 Olympic Games Commemorative Banknote is the first Olympic-themed banknote in the history of the Olympic Games. HKD Olympic Banknote has a far-reaching meaning as it combines the elements of the Olympic Games and charity, further promoting the spirit of the People s Olympic .

The launch ceremony of the HKD Olympic Banknote was held today at the 70/F of Bank of China Tower. The officiating guests included Mr He Guangbei, Vice Chairman and Chief Executive of BOCHK; Ms Guo Li, Deputy Director of the Liaison Office of the Central People s Government in the HKSAR; The Honorable John C.

Tsang, Financial Secretary of the HKSAR; Mr Joseph Yam, Chief Executive of the Hong Kong Monetary Authority; The Honorable Timothy Fok, President of Sports Federation and Olympic Committee of HK, China and Vice President of The Equestrian Committee (Hong Kong) of Beijing Organizing Committee for the Games of the XXIX Olympiad; Ms Yuan Bin, Director of Marketing Department of Beijing Organizing Committee for the Games of the XXIX Olympiad, Mr Lam Woon Kwong, Chief Executive Officer of Equestrian Events (Hong Kong) of The Games of The XXIX Olympiad Company Limited and Mr Xu Chen, General Manager of the Olympic Affairs Department of Bank of China Head Office.

Addressing the audience at the launch ceremony, Mr He Guangbei said, The Beijing 2008 Olympic Games is a momentous international event that all Chinese will be proud of. It is also the first time ever in the history of the modern Olympic Games that Olympic Banknotes are issued. As a note-issuing bank in Hong Kong, it is our great honour to commemorate the Beijing Olympic Games with this Banknote.

We share the pride with Hong Kong citizens. It took just over a year to design and print the Hong Kong Dollar Olympic Banknote. It was accomplished in such a short time with the proactive guidance and gracious support of the Financial Secretary of the HKSAR Government, the Hong Kong Monetary Authority, International Olympic Committee, The Beijing Organizing Committee for the Games of the XXIX Olympiad, Bank of China Head Office, China Banknote Printing and Minting Corporation and Hong Kong Note Printing Limited.

I would like to take this opportunity, on behalf of Bank of China (Hong Kong), to express my heartfelt gratitude to all the relevant parties.

The Banknote is the legal tender of the Hong Kong Special Administrative Region, but not intended for use as general local banknotes in circulation. As such, all the banknotes will be packaged and sold at the prices higher than their face values. BOCHK will bear all the costs of the HKD Olympic Banknote design, printing, packaging, the royalties, sales and the like. Proceeds generated from the sales of the HKD Olympic Banknote, after deducting the face value and the costs, will all be donated to charity. A portion of the donations will be used to support sports development.

So we are not only commemorating the Olympic Games in a way that will not increase the number of general banknotes in circulation or burden the Hong Kong SAR government, we are also contributing to a good charitable cause. With the issuance of the Hong Kong Dollar Olympic Banknote, let s join hands together with the general public to welcome the Olympic Games with joy. We wish every success for the Beijing Olympic Games , Mr He added.

Addressing the audience at the launch ceremony, Ms Yuan Bin said, The issuance of the Olympic Banknote is the fruitful result of the close cooperation and concerted efforts of Beijing and Hong Kong under the guidance of the One Country, Two Systems policy in the wake of the return of Hong Kong to our motherland. It also demonstrates the best wishes of both Hong Kong and the Mainland people in joining hands to organize a great international event and contribute to its tremendous success.

In commemorating the Beijing Olympic Games, the theme of the HKD Olympic Banknote promotes the objective of the Olympic Games and the mission of the Beijing 2008 Olympic Games. The front side of the HKD Olympic Banknote features the relic of the ancient Olympic stadium, the Beijing 2008 Olympic Games emblem and the Bank of China Tower in Hong Kong.

On the reverse side is the Beijing Olympic Stadium, or the National Stadium (known also as the Bird s Nest ). The pictures, wordings and symbols of the Beijing 2008 Olympic Games have been adopted by the Banknote. These images, be they bold or elegant, dynamic or still, embody the harmonious blending of ancient civilization and modern culture, reflecting the history and development of the Olympic spirit from generation to generation.

These icons signify the passion and best wishes of the people of Hong Kong towards the Beijing 2008 Olympic Games.

There are altogether 4 million pieces of HKD Olympic Banknotes which will be offered in five different packages with a total of 3.14 million sets available for public sale. The types and prices of the Olympic Banknote are: Radiant Joy (Single HKD Note) at HKD138 per set, Triumphant Spirit (4-in-1 Uncut HKD Notes) at HKD338 per set, Brilliant Jubilation (35-in-1 Uncut HKD Notes) at HKD1,388 per set, Harmonious Union (a package of one HKD Note and one MOP Note) at HKD268 per set, United Pleasure (a package of 4-in-1 Uncut HKD Notes and 4-in-1 Uncut MOP Notes) at HKD868 per set.

The HKD Olympic Banknotes will be sold in Hong Kong and Macau, and a small amount will be sold worldwide by authorized agents approved by the International Olympic Committee. The sales quota allocated to Hong Kong will be 2.93 million sets, representing 3.76 million pieces of the notes. Sales will be conducted in two phases: the first from July 16 to 31 at the 50 designated branches of BOCHK.

All the five types of the Olympic Banknote will be available at the 6 designated branches while only single note will be made available at the rest 44 designated branches. The second phase is from August 8 to 22 at the related Olympic Equestrian venue.

Sales of the HKD Olympic Banknote will be conducted in accordance with the principles of Openness, Fairness and Transparency . The HKD Olympic Banknotes will be sold on a first-come-first-served basis. Interested public are required to queue up at the designated branches. No reservation or registration will be allowed. Each person will be limited to purchase 1 set of each type of the HKD Olympic Banknote for each time. All the notes will be sold in a random manner, and customers are not allowed to select designated serial numbers.

BOCHK will arrange for some limited editions of the HKD Olympic Banknotes, featuring special serial numbers, to be sold through bidding, with the proceeds to go to charity.