TNAG-2016-FCO40-2871-Relations-between-Hong-Kong-and-Japan-1990 — Page 109

1

2

a.

the military bills were 'backed up by a

large reserve' and could be used to pay

for any purchase;

b.

C.

Hong Kong currency was forbidden to be

circulated in Hong Kong, except that of

face value below ten dollars, which could

be circulated until further notice; and

anyone carrying military bills into or out of

Hong Kong for profiteering without the

Japanese government's permission, or obstructing

the circulation of the military bills,

or changing or attempting to change the

fixed exchange rate of the military bills,

would be beheaded.

(3) Under such strong pressure, Hong Kong citizens

could do nothing but convert Hong Kong currency

The to Japanese currency and military bills.

Japanese government then sent the collected Hong

Kong currency back to Japan for military and

economic purposes and spent some in buying goods

and materials from Macau.

...