Bank of East Asia Currency & Banknote Values

The Bank of East Asia series of China Foreign Banks in the World Currency contains 18 distinct entries.

The Bank of East Asia (BEA) was founded by four Hong Kong families, the Lis, Wongs, Kans and Fungs, in 1918. The bank opened at 2 Queen’s Road, Hong Kong, on 4 January 1919, with a Shanghai branch established the following year. Later, branches were also established in Saigon and Haiphong in French Indochina. To enhance its standing in the banking industry, the bank made plans to issue banknotes, appointing Waterlow & Sons of London to design and create the plates for five denominations. The project was personally supervised by two of the bank’s founders, Kan Tongpo and Li Tsefong. Unfortunately, a suitable opportunity was never found to issue the notes. The Bank of East Asia prospered, however, and a new headquarters building was constructed in Hong Kong in 1935, underscoring its rise to prominence. Its ambitions as an issuer ended in 1935 when the Chinese government decided to reform the monetary system by giving issuing authority to only four government banks. For more information, visit www.hkbea.com.