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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

CE promotes HK to Japan

Chief Executive Carrie Lam today addressed more than 800 Japanese entrepreneurs and business executives during a webinar on Hong Kong as a pro-business gateway to China.   During the session, Mrs Lam emphasised that “one country, two systems” is not only the bedrock of Hong Kong’s stability and continued success, but also regarded by the central authorities as an institutional strength of the nation.   She said the two important decisions made by the National People’s Congress in the past year, namely the enactment and implementation of the National Security Law and the improvement to the electoral system of the Hong Kong Special Administrative Region, have put the implementation of “one country, two systems" in the Hong Kong SAR back on the right track, enabling the city to flourish while leveraging such unique strengths.   Through a short video recapping her visits to Japan and meetings with Japanese officials and representatives of various sectors since taking office, Mrs Lam highlighted the close ties between Hong Kong and Japan.   She said this was also reflected in Hong Kong hosting nearly 1,400 Japanese companies, the largest group of foreign companies that have set up offices in Hong Kong, with about half of them using the city as their regional headquarters or regional offices.   Mrs Lam pointed out that Hong Kong’s traditional strengths, including the rule of law, an independent judiciary, a free flow of capital and information and a deep talent pool, are as strong as ever, and that the city will continue to serve as a gateway for businesses and investment between the Mainland and Japan.   The Chief Executive also noted that in the 14th Five-Year Plan for National Economic & Social Development, Hong Kong’s competitive strengths as international financial, transportation and trade centres, as well as a centre for international legal and dispute resolution services in the Asia-Pacific region, continue to be recognised for advancement.   Meanwhile, for the first time the city’s aspiration and ability to develop an international innovation and technology (I&T) hub, an international aviation hub, an East-meets-West centre for international cultural exchange and an intellectual property trading hub have been given recognition, she added.   Mrs Lam highlighted that the huge market and growth potential of the Guangdong-Hong Kong-Macao Greater Bay Area presents unlimited opportunities not only to Hong Kong but also to the world.   She expects exciting developments in the bay area in the coming years and encouraged Japanese enterprises to partner with Hong Kong to seize those opportunities.   The Chief Executive was joined at the webinar by Secretary for Commerce & Economic Development Edward Yau, Secretary for Financial Services & the Treasury Christopher Hui, Secretary for Innovation & Technology Alfred Sit and Commissioner for the Development of the GBA Tommy Yuen.   Mrs Lam and the three officials addressed wide-ranging questions from participants during the one-and-a-half-hour session, covering travel restrictions due to COVID-19, Hong Kong’s status as an international financial centre, I&T development and the decarbonisation policy. 
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