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HONG KONG: The first ever plastic HK$10 bills were issued in Hong Kong yesterday to great public excitement.

Signed by former Financial Secretary Henry Tang on April 1, the 50 million plastic HK$10 notes went into circulation yesterday, with Hong Kong Shanghai Banking Corporation (HSBC) as the distributing agent.

Though there were no limits on the number of bank notes each citizen could exchange, more than 100 people queued outside an HSBC branch in Mong Kok as early as 6:30 am yesterday.

Some people lauded the new bank notes for their smoothness and durability. Others remarked that the new bank notes were of interest to collectors because they had been signed by former Financial Secretary Tang.

Resistant to dust and dirt, the bank notes can be washed in soap and water without being damaged. The bank notes can also be recycled, making them environment-friendly.

A spokesperson for HSBC remarked that the bank notes were available at all HSBC branches as well as those of other major banks, such as Hang Seng Bank and Bank of China.

While bank notes with special numbers, such as "000001", are expected to increase in value in the future, some of them may be reserved for charity auctions in the future.

A spokesperson for the Hong Kong Monetary Authority said the older green HK$10 notes and HK$10 coins would remain in use.

The government will evaluate public response to the new bank notes in two years to decide whether it will issue plastic bank notes in other denominations.

(China Daily 07/10/2007 page4)