Double happiness: Good-as-new notes Chinese naming and slogan contest champion Lam Chung-yin receives a certificate from Monetary Authority Chief Executive Joseph Yam.

Using good-as-new notes for lai see money can help protect the environment and is an auspicious way to welcome the Chinese New Year, Monetary Authority Chief Executive Joseph Yam says.

In his latest Viewpoint article on the authority's website, Mr Yam said the community welcomed last year's call for using good-as-new notes instead of brand-new notes for lai see money. About 20% of the notes issued in the run-up to Chinese New Year - about 53 million notes - were good-as-new notes.

The note-issuing banks will again offer both good-as-new and brand-new notes for the coming Chinese New Year. 

To encourage people to use good-as-new notes for lai see, a Chinese naming and slogan contest was held last October, attracting submissions from 182 students from 65 primary schools.

Lam Chung-yin's winning submission "ying-san note" is an ingenious pun. It literally means "a note to welcome the new year". When spoken, it sounds like a phrase meaning "a note that is still new".

Mr Yam said note-issuing banks will be using the winning "ying-san note" and slogan in their posters to promote the use of good-as-new notes for lai see this Chinese New Year.

"I hope this publicity will help make people more aware of environmental protection, not just during traditional festivals, but for the whole of the new year," he added.