The general idea is not only to facilitate the truncation, digital imaging and electronic presentment of checks when this makes economic sense but also to protect the rights of consumers or others to receive a paper check if they want.
For the first half of 2004, real GDP registered robust growth of 9.5 percent. Growth was broadly based, supported by further implementation of the Closer Economic Partnership Arrangement between Hong Kong SAR and the Mainland and gradual expansion of travel deregulation to more mainland cities and provinces. Consumer confidence continued to recover, putting an end to almost six years of deflation.