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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

Travel bubble talks halted

Hong Kong and Singapore have decided not to pursue further discussions on the bilateral Air Travel Bubble after taking into account the differences in the anti-epidemic strategies currently adopted by both sides.   The two governments announced the decision today, saying that they will continue to facilitate movements of travellers between both places under their respective border control measures.   The Hong Kong Special Administrative Region Government noted that the discussions on the travel bubble, which began in the second half of 2020, had gone through a long period of evolvement of the COVID-19 epidemic situation.   The discussions were all along premised upon similar anti-epidemic strategies adopted by the two places, aiming to reduce local caseloads to a minimum.   However, Singapore has now moved towards a new strategy of building a "COVID-resilient" nation and therefore the basic premises that underpin the travel bubble have changed.   For example, the seven-day moving average of unlinked local cases, which is the criterion for suspending and resuming the travel bubble as per the agreed framework, may not be kept consistently at the required level in Singapore as a result of its new strategy.   The Hong Kong SAR Government stressed that Hong Kong and Singapore remained committed to facilitating connectivity between both places and would continue to maintain dialogue as well as share experiences.   It also welcomed Singapore's announcement to unilaterally allow entry of travellers from Hong Kong into Singapore quarantine-free from August 20, adding that it is a step forward in resuming cross-border travel between the two regional aviation hubs and international cities.   For travellers coming to Hong Kong from Singapore, including both Hong Kong residents and non-Hong Kong residents, they may refer to the arrangements for inbound travellers from Group B specified places.
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