20 Dollars HSBC

The P#201 series spans nearly a decade, bridging Hong Kong's final years under British administration and the first years after the 1997 handover to China. HSBC retained its right to issue currency under the new Special Administrative Region — one of the more unusual arrangements in post-colonial monetary history, where a private commercial bank continued printing legal tender alongside the government.

De La Rue's work on this series is technically sound but unremarkable for the printer. The watermark remains the primary security feature, modest by the standards already established in contemporaneous issues elsewhere.