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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

Sheung Shui site sold

The tender for a Sheung Shui site has been awarded on a 50-year land grant at a premium of $4.185 billion, the Lands Department announced today.   Fanling Sheung Shui Town Lot No. 278 at Area 24, Kwun Tung, New Territories was awarded to Season Investments, a subsidiary of Wheelock Properties.   It has a site area of about 7,624 sq m and is designated for non-industrial purposes excluding godown, hotel and petrol filling station.   The site’s minimum and maximum gross floor areas are 27,447 sq m and 45,744 sq m.
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