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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

More MiC projects expected

Secretary for Transport & Housing Frank Chan said the Housing Authority will proactively select more suitable public housing sites for adopting modular integrated construction (MiC).    A MiC module is built up from walls, slabs and exterior walls pre-installed in the factory. Together with all the necessary finishes, fixtures and fittings, it is then directly transported to the site for assembly.   While answering lawmakers’ questions today, Mr Chan explained that the authority has selected one of the domestic blocks of the public housing development at Tung Chung Area 99 as the first pilot MiC project.   He noted that the project is currently undergoing excavation and construction works for the basement car park. Together with the construction works of the superstructure, the project is scheduled for completion in 2024.   Mr Chan pointed out that not all of the authority’s housing development sites can meet all the requirements of using MiC. When identifying suitable MiC projects, the authority would consider selecting public housing sites with relatively simple terrain, transportation network and availability of storage area nearby.   To map out the long-term solutions regarding site constraints, the authority has selected a domestic block at Tak Tin Street and three domestic blocks at Anderson Road Quarry Site as MiC projects.   The authority will review the efficiency of MiC amidst the construction process, work out detailed analysis of the construction time, workflow and cost, and work with the industry to explore means to optimise the application efficiency, Mr Chan added.
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