HK takes measures against fake money

Home>>Business

Last updated at: (Beijing Time) Thursday, December 11, 2003

HK takes measures against fake money

Hong Kong's Secretary for Security Ambrose S K Lee told the Legislative Council here Wednesday that Hong Kong has taken a series of measures to fight against fake Renminbi (RMB).

DISCUSSION

CHINESE

SEND TO FRIEND

Hong Kong's Secretary for Security Ambrose S K Lee told the Legislative Council here Wednesday that Hong Kong has taken a series of measures to fight against fake Renminbi (RMB).

According to him, the number of fake Renminbi notes seized by Hong Kong police has risen from 551 in 2000 to 1,068 in the first 10 months of 2003.

He noted that based on the number of fake banknotes seized in Hong Kong in the past three years, counterfeit RMB in Hong Kong is not a serious problem.

Nevertheless, in view of the increasing trade between Hong Kong and the mainland, Hong Kong Police and the mainland authorities have established effective communication channels. The two sides also maintain cooperation and exchange intelligence in respect of the problem of counterfeit RMB.

For example, if the Hong Kong Police have information on mainland shops that are suspected to be the source of fake RMB, they will inform the relevant mainland enforcement departments so that they can conduct investigation and take appropriate actions, he said.

On prevention and public education, the police maintain liaison with the Hong Kong Monetary Authority (HKMA) in providing training to bank staff.

The police will also arrange seminars for other relevant industries, including the retail industry, and educate them through the mass media on ways to identify counterfeit RMB, Lee said.

Questions?Comments? Click here

Mainland, HK to strengthen financial cooperation: official

US TV dump charges not just a biz spat: Analysis ( 4 Messages)

China not to tolerate splitting Taiwan from motherland: Premier ( 3 Messages)

Trade war? A buying spree for cheap Chinese goods ( 3 Messages)

Moon probe to blast off in 3 years: Chief scientists ( 2 Messages)

Bush strategy: Spend now, pay later? ( 35 Messages)