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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

SJ meets legal sector

Secretary for Justice Teresa Cheng met legal sector members at two briefing sessions today to explain the improvement to Hong Kong's electoral system to enable the stakeholders to have a better understanding of the matter and thereby render their support.   The Standing Committee of the National People's Congress yesterday passed the amended Annex I and Annex II to the Basic Law for improving Hong Kong's electoral system.   The amendments safeguarded the constitutional order set out by the Constitution and the Basic Law while enhancing Hong Kong's governance efficacy. As such, the "one country, two systems" principle will continue to be implemented steadfastly.   In addition to giving its full support to the Government's work to improve the electoral system as early as possible, the Department of Justice will provide explanations to the legal community on the importance, necessity and legality of the improvement to gain their staunch support.
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