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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

HK fully co-operates with central govt

The Hong Kong Special Administrative Region Government today said the central government has the authority and responsibility to improve the city’s electoral system, adding that it will render its full co-operation to the central government.   The Hong Kong SAR Government made the statement in response to the deliberation by the National People's Congress of a draft decision on improving the city's electoral system.   The Hong Kong SAR Government said to ensure the steadfast and successful implementation of "one country, two systems", Hong Kong must always adhere to the principle of "patriots governing Hong Kong".   The principle is fundamental to national sovereignty, security, development interests, as well as the long-term prosperity of Hong Kong, it added.   "Only through ‘patriots governing Hong Kong’ can the central government's overall jurisdiction over the Hong Kong SAR be effectively implemented, the constitutional order as set out by the Constitution and the Basic Law be effectively safeguarded and the long-term stability and safety of Hong Kong be achieved.   "Matters concerning the political system of the Hong Kong SAR are the prerogative of the central government. The central government has the authority and responsibility to improve the electoral system in Hong Kong.   "The Hong Kong SAR Government respects that the central government is taking the lead and will render its full co-operation," the statement said.
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