Hong Kong: Elizabeth II and the Return to China

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Lady Elizabeth Haddon-Cave (centre) at a function in 1984.

She was the designer of the Hong Kong 1997 commemorative set. She died in 2008.

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On 1 July 1997, the transfer of sovereignty from United Kingdom to the PRC occurred, officially ending 156 years of British colonial rule. Hong Kong became China's first special administrative region, and Tung Chee Hwa took office as the first Chief Executive of Hong Kong. That same year, Hong Kong suffered an economic double blow from the Asian financial crisis and the H5N1 avian influenza.

As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, the Hong Kong dollar, which has been pegged to the U.S. dollar since 1983, is the ninth most traded currency in the world. Hong Kong was once described by Milton Friedman as the world's greatest experiment in laissez-faire capitalism. It maintains a highly developed capitalist economy, ranked the freest in the world by the Index of Economic Freedom for 15 consecutive years. Between 1961 and 1997 Hong Kong's gross domestic product grew 180 times while per-capita GDP increased 87 times over.

Positive non-interventionism was the economic policy of Hong Kong during British rule. It was first officially implemented in 1971 by John James Cowperthwaite, who observed that the economy was doing well in the absence of government intervention but that it was important to create the regulatory and physical infrastructure to facilitate market-based decision making. The policy was continued by subsequent Financial Secretaries, including Sir Philip Haddon-Cave. Economist Milton Friedman cited it as a fairly comprehensive implementation of laissez-faire policy, although Haddon-Cave stated that the description of Hong Kong as a laissez-faire society was "frequent but inadequate".

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From the 1950s to the 1970s, the English language denomination appeared in words only on all the coins.

Then, in 1982, the 10 cent coin was reduced in size.

The English language denomination was shown in words AND numerals.

You would imagine that all the other coins would then acquire numerals.

But this happened only with the 5 dollar coin from 1980 onwards.

That was after it had been reduced in size and changed from 12-sided coin to circular.

All the other denominations continued to be shown in words rather than numerals.

Changes were  made to the legends only when the size and shape of the coin changed.

Presumably this was done to save money.

It wasn't until 1993 that all the denominations were also shown in numerals:

This was done after the Queen's effigy was replaced by the Bauhinia obverse.

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In fact, the coins have numerals, but they are Chinese characters.

Joseph Yam was not a professional graphic designer but a central banker. He did indeed design the Bauhinia, as he wished that the design would remain secret as long as possible.

Peter

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In fact, the coins have numerals, but they are Chinese characters.

Yes, I should have stressed that I meant European numerals - which are of course Arabic in origin!

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In fact, the coins have numerals, but they are Chinese characters.

Joseph Yam was not a professional graphic designer but a central banker. He did indeed design the Bauhinia, as he wished that the design would remain secret as long as possible.

Peter

Sir Charles Philip Haddon-Cave, (1925-1999) - better known as Philip Haddon-Cave - was Financial Secretary of Hong Kong from 1971 to 1981.
Lady Elizabeth Haddon-Cave was his wife, and she designed many of Hong Kong's commemorative coins, including the reverses of the attractive "Return to China" set of 1997.

[Enlil]

And if you waht to say a $1.80 in cantonese, you say Yat go baat, or Yat maan baat ho. Go and Maan mean dollar and ho means 10 cents. Yat is one and Baat is 8.

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See also: The modern coinage of Macao.

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Hong Kong, $1000, 1997.  Return to China.

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Obverse of the 10 cents coin of 1997, featuring a bauhinia flower.

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Reverse of the 10 cents coin of 1997, featuring a Chinese junk.

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Reverse of the 20 cents coin of 1997.

It featured two butterfly kites with tails knotted together.

This symbolises joy and conjugal felicity.

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Obverse of the 20 cents coin of 1997.

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Reverse of the 50 cents coin of 1997.

It features an ox, signifying new beginnings.

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Obverse of the $1 coin of 1997.