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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

Customs condemns false accusation

Customs today seized a batch of suspected law-breaking products from a chain retailing group and condemned any false accusation maliciously alleging that its action against the trader is repression.   It seized a batch of 14 models of suspected law-breaking shower gels, household cleaning detergents and clothing bleaches from various premises of the chain retailing group.   The product information marked on the packages of the products involved failed to bear bilingual warnings or cautions for their safekeeping, use, consumption or disposal, suspected to be in contravention of the Consumer Goods Safety Regulation, a subsidiary legislation of the Consumer Goods Safety Ordinance.   Customs said an investigation is ongoing and did not exclude the likelihood of more arrests.   For the sake of public interest, the department will make a public announcement on details of the case on April 9 and alert the public on the suspected law-breaking products.   Customs added it will take all necessary actions, under which decisive law enforcement action will be taken if any suspected violation is found.
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