Hong Kong dollar or Hong Kong dollar is the legal tender of Hong Kong. According to the Basic Law of Hong Kong and the Sino-British Joint Declaration, Hong Kong's autonomy includes the right to issue its own currency. Its official ISO 42 17 abbreviation is HKD (Hong Kong dollars); The sign is Hong Kong dollars.

The Hong Kong Monetary Authority, Standard Chartered Bank (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited and the Bank of China (Hong Kong) Limited announced on July 20th that they would launch a new series of 20 10 banknotes. Hong Kong has established a linked exchange rate system linking the issuance of Hong Kong dollars to the US dollar. The US dollars held by the Exchange Fund provide support for the stability of Hong Kong dollar banknotes.

Extended data:

Exchange rate system:

During the development of Hong Kong as a trade and financial center, different types of linked exchange rate systems have been implemented. 1863, the Hong Kong government announced that the then international currency, the silver dollar, was the legal tender of Hong Kong, and began to issue its own silver dollar in 1866.

Until 1935, Hong Kong's monetary system was based on the silver standard. After the global silver crisis, the government announced that it would abandon the silver standard, and the Hong Kong dollar was linked to the British pound at the exchange rate of 16 Hong Kong dollars 1 British pound.

Institutional change:

In the early 1970s, the Hong Kong government put forward the slogan of establishing an international financial center and spared no effort to promote the development of Hong Kong's financial industry. The British authorities in Hong Kong have adjusted the financial system to promote effective and orderly market competition.

On the one hand, give full play to the advantages of free market economy and realize the effective allocation of resources; On the other hand, the government intends to change the role of passive non-intervention in the economy, strengthen macro-control over the development of the financial industry, and achieve the goal of active non-intervention in economic policy. The change of monetary system is an important content of financial system adjustment.

Baidu Encyclopedia-HKD