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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

CE's advisory body convenes

The Chief Executive’s Council of Advisers on Innovation & Strategic Development held its 12th meeting today during which members provided their views and suggestions on the 2021 Policy Address.   Chief Executive Carrie Lam said with the implementation of the National Security Law and improvements to the electoral system, stability had been restored and the relationship between the Executive and the Legislature improved. Consequently, there were rising expectations for more effective governance and a greater resolve to address some long standing problems in Hong Kong society.   Members shared Mrs Lam’s view that the Government should demonstrate in the coming Policy Address, albeit this being the last one in the current-term Government, determination in resolving “bottlenecks” in land and housing supply, nurturing talent, offering diversified career opportunities for young people, providing affordable medical care, and building a more charming and liveable Hong Kong.   They opined that the 2021 Policy Address should be forward-looking and visionary, setting eyes on the future to instil hope and confidence.   Mrs Lam noted that the Government will assure the local and international community that Hong Kong’s fundamental strengths have not changed, with the rule of law as robust as ever.   She pointed out that Hong Kong has a bright future under “one country, two systems” and will emerge stronger by leveraging its traditional strengths and seizing opportunities arising from the 14th Five-Year Plan, the Greater Bay Area development and the Belt & Road Initiative.   Members congratulated Hong Kong athletes for their excellent performance at the Tokyo Olympic Games and appreciated the Government’s move to purchase the broadcasting rights for free use by all television stations which had helped create social cohesion in society.   They were also briefed on the city’s latest state of play in innovation and technology (I&T) and the strategies in developing an international I&T hub with the central government’s support under the 14th Five-Year Plan.
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