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23 building plans approved in Jan

The Buildings Department approved 23 building plans in January - four on Hong Kong Island, 10 in Kowloon and nine in the New Territories.   Of the approved plans, 15 were for apartment and apartment-commercial developments, five were for commercial developments, two were for factory and industrial developments and one was for a community services development.   Consent was given for works to start on nine building projects which will provide 117,013 sq m of gross floor area for domestic use involving 2,755 units and 144,989 sq m for non-domestic use.   Additionally, the department received notification of commencement of superstructure works for five building projects.   The department also issued 17 occupation permits - six on Hong Kong Island, three in Kowloon and eight in the New Territories.   Buildings certified for occupation have 152,580 sq m of gross floor area for domestic use involving 3,178 units and 35,955 sq m for non-domestic use. http://dlvr.it/SlPVDD
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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 gradually enhance its dual-currency stock market to be denominated and traded in both Hong Kong dollars and RMB.”   Furthermore, he pointed out that promoting the issuance and trading of RMB stocks in Hong Kong will take RMB internationalisation to the next level, catering for the escalating demands from global investors for RMB asset allocation and further consolidating the city's status as an offshore RMB business hub.   The Government will continue to assist the issuers in setting up RMB trading counters and actively take forward the implementation work with relevant Mainland institutions, he added.   The Financial Services & the Treasury Bureau briefed the LegCo Panel on Financial Affairs on the legislative proposal to exempt the stamp duty on stock transfers for specified transactions conducted by market makers for dual-counter stocks, so as to promote the liquidity of RMB-denominated stocks and price efficiency, and facilitate trading by investors.   The Government is preparing the legislative amendments with a view to introducing the bill into LegCo within this year.
http://dlvr.it/SZT0Lh

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