Two bags containing money were found on the tarmac but the third was still missing.

A bag containing more than $1 million in Chinese currency was lost at Hong Kong International Airport in a transfer bungle, after being unloaded from a Cathay Pacific flight from Auckland.

The bag was part of a consignment of 13, carrying a total of about $10m.

Chinese news media reported more than 4,080,500 yuan went missing on Friday when the bag carrying it fell out of a trailer English news site Shanghaiist said, in a report based on the Oriental Daily.

After the flight landed at 9.10pm, bags labelled "G4S International" were being delivered to the Bank of China via cargo transfer service Hong Kong Airport Services, a Cathay subsidiary, the report said.

Surveillance footage showed three bags fell out of a trailer after not being properly fastened.

There was only a driver on board, and no security guard.

When the cargo arrived at the station 10 minutes later, the driver realised the bags were missing.

Two were found on the tarmac but the third was still missing. Police were investigating.

Cathay Pacific country manager Mark Pirihi confirmed the airline transported a valuable cargo shipment from Auckland to Hong Kong on 17 July.

He did not say what the value of the shipment was.

Upon arrival it was transferred to a cargo terminal where part of the shipment was found missing.

Because the case was under police investigation he was unable to provide further details.



He said Cathay Pacific handling procedures for valuable cargo were stringent.

The airline would follow the terms and conditions stated in its contract and service agreement with the owner, but it was too early to comment on liability, he said.



New Zealand police spokeswoman Shelly Nahar said the police were aware of what had happened, but it was a Hong Kong-led investigation.



Cathay chief executive Tony Tyler said in 2008 the state-of-the-art $1.07 billion facility was one of the biggest, busiest and most efficient terminals in the world.