10 Patacas Year of the Tiger, Banco da China

Banco da China became the third institution permitted to issue Macanese patacas when its note-issuing licence was granted in 1995, joining Banco Nacional Ultramarino and the Banco da China's competitor-issuer SIEVERT — a deliberately plural arrangement that persists under the terms negotiated ahead of the 1999 handover to China. This note is part of the annual lunar new year commemorative series, which Banco da China has issued consistently since the early 2000s in denominations that see limited everyday use but strong collector demand.

The China Banknote Printing and Minting Corporation has produced all Banco da China Macau issues since the licence was granted, an unsurprising arrangement given the institutional relationship. Security specification on this series is modest relative to circulating issues — watermark and thread only, reflecting the essentially commemorative function.