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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

Student headcount to be conducted

Secretary for Education Kevin Yeung today said a count of Primary 1 students will be conducted by mid-September for the Government to understand the impact of migration on individual schools.   He made the statement at a media session after the Legislative Council’s Panel on Education meeting.   “What we will be doing is, by the middle of this month, a headcount of the new Primary 1 students, then we will know better if there is any major change in the population or the number of students admitted to Primary 1.”   When asked what the Government will do to ensure schools’ stable development under the backdrop of population change, Mr Yeung explained that measures have been established over the years, especially in the primary school sector.   “We have lowered the number of students for each class, and for surplus teachers, we would have a toleration period of three years.”   Noticing recent news reports on the cuts in the number of Primary 1 classes, the education chief also clarified how the Government determines the number of Primary 1 classes to be offered each year.   “The way we calculate the number of Primary 1 classes each year (such as provisional assumption for the admission process in 2022) is based on the number of Primary 6 classes in the previous year, and also the number of classrooms divided by six, then take whichever is larger.   “So it is just formula-based. It does not reflect actually the forecast of the number of the possible Primary 1 students,” he stressed.
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