Focus on Singapore immigration and life in Singapore: The Monetary Authority of Singapore stated on the 7th that it will continue the tradition from last year by issuing plastic banknotes of 2 Singapore dollars (approximately 9.5 Chinese yuan) known as "good-as-new notes" before the Spring Festival, encouraging people to pay more attention to environmental protection while carrying on the tradition of giving red packets during the festive season.
"Good-as-new notes" are durable plastic banknotes that are not significantly different from brand new ordinary banknotes. The Monetary Authority states that the "good-as-new notes" will be issued on the 13th along with the brand new 2 Singapore dollar banknotes. Among the 2 Singapore dollar banknotes issued during last Lunar New Year, 11% were "good-as-new notes." The use of these "good-as-new notes" saves the energy required for printing brand new banknotes, enough to provide for the energy consumption of 100 households for a month.
Over 70% of Singapore's population is made up of Chinese, and the Spring Festival is the most significant holiday for the local Chinese community. During the Spring Festival, it is customary for Chinese people to give red packets to wish for good fortune in the coming year, and banknotes of 2 Singapore dollars are particularly popular.
