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RMB stock trading backed

Secretary for Financial Services & the Treasury Christopher Hui today expressed his gratitude to various listed issuers in Hong Kong for their support to the proposal of setting up a renminbi (RMB) stock trading counter.   Mr Hui stated that further to the help rendered by the Legislative Council Panel on Financial Affairs regarding the Government's proposed measures to promote the issuance and trading of RMB stocks in Hong Kong and enhance the trading mechanism, a number of listed issuers have also backed the proposal.   Such listed issuers will actively explore the feasibility of setting up a new RMB trading counter for their issued shares.   Mr Hui explained that listed issuers who indicated their support today include Hang Seng Index constituent stocks with promising turnover.   “Their participation is a vote of confidence to the development of RMB securities in Hong Kong, which will be conducive to our promotion work to other issuers, enabling Hong Kong to graduall

Govt warns of unlawful assemblies

The Security Bureau today said the public meetings and procession to be held on May 29 and June 4 are unauthorised assemblies and anyone advertising, publicising or taking part in such acts may violate the law.   In a statement, the bureau noted that Police have prohibited and objected to a public meeting and procession to be held on May 30 and a public meeting to be held on June 4. The decisions were confirmed by the Appeal Board on Public Meetings & Processions following a hearing.   According to the Public Order Ordinance, anyone who takes part in an unauthorised assembly is liable to a maximum penalty of five years’ imprisonment while those taking part in advertising or publicising an unauthorised assembly are liable to a maximum penalty of 12 months’ imprisonment.   Additionally, taking part in such events may be in breach of relevant offences under the Prevention & Control of Disease (Prohibition on Group Gathering) Regulation.   The bureau also noted that the court's recent judgments in two cases relating to unauthorised assemblies in 2019 indicate that taking part in an unauthorised assembly, whether or not it involves violence, is in violation of the law. The people concerned were eventually sentenced to imprisonment of varying terms.   It reminds the public that they should not advertise, publicise or take part in any unauthorised assembly.   Anyone who attempts to challenge the law, including the Prohibition on Group Gathering, Public Order Ordinance and the National Security Law, will be seriously dealt with by Police in accordance with the law, the bureau added.
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