Bank of China (Hong Kong) Limited
Bank of China (Hong Kong) Limited is one of Hong Kong’s three note-issuing banks, issuing Hong Kong dollar banknotes within the territory’s regulated multi-bank currency system.
Quick Facts
Institutional Identity
BOCHK is a locally incorporated licensed commercial bank rather than a central bank. Alongside The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank (Hong Kong) Limited, it issues HK$20, HK$50, HK$100, HK$500 and HK$1,000 banknotes. Under Hong Kong’s Linked Exchange Rate System, note-issuing banks obtain Certificates of Indebtedness against US dollars placed with the Exchange Fund at the fixed rate of HK$7.80 per US dollar.
Historical Evolution
Bank of China began issuing Hong Kong dollar banknotes on 1 May 1994. The Bank of China Group’s Hong Kong operations were restructured in 2001, and Bank of China (Hong Kong) Limited was established on 1 October 2001 as a locally incorporated licensed bank. Under the merger arrangements, Hong Kong dollar banknotes issued by Bank of China before the restructuring remained legal tender and became obligations of BOCHK, preserving continuity across the institutional change.
Design Philosophy
BOCHK banknotes combine a distinct issuer identity with the coordinated structure of Hong Kong’s multi-bank currency system. In the 2018 series, the front designs use the bauhinia flower and the Bank of China Tower, while the reverse follows five denomination-wide themes shared by all three note-issuing banks: Hong Kong as an international financial centre, the UNESCO Global Geopark, Cantonese opera, local butterflies, and dim sum and tea culture. The 2018 reverses are vertically oriented and incorporate modern security features including dynamic optical elements, windowed metallic threads, intaglio tactile printing and enhanced watermarks.
For collectors
For collectors, BOCHK forms a distinct branch of Hong Kong dollar collecting because issuer identity is a primary classification point in a system where several authorised institutions issue parallel denominations. Its note-issuing history begins in 1994, much later than those of HSBC and Standard Chartered, while the 2001 restructuring provides a clear institutional boundary between Bank of China issues and later BOCHK issues. Comparing corresponding denominations across the three issuing banks reveals how a shared monetary framework can support separate design traditions.