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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

Travel bubble safeguards in place

The travel bubble arrangement between Hong Kong and Singapore includes additional safeguards, but both sides will continue to monitor the COVID-19 epidemic situation, Secretary for Commerce & Economic Development Edward Yau said today.   After attending an event, Mr Yau told reporters Hong Kong was currently enjoying a relatively stable and low-risk situation.   “We have seen the number of cases, particularly those unlinked local cases, come down to a very low level. We hope this will be maintained.   “At the same time, we are also seeing Singapore, despite some cases, by and large staying within the range that we have agreed upon for the suspension or resumption.   “So, at the moment, we are keeping an eye on this development and will see how things go.”   Mr Yau assured travellers that both places have strengthened their safeguards and would be on the alert for any changes in the epidemic situation.   “The most recent agreement has additional built-in safeguards, including an additional three-day observation on the daily number of unlinked local cases at a lower level, and the requirement to stay in the respective cities for 14 days before embarking on the travel bubble without counting the quarantine requirement for those passengers coming from a third place.   “All these are the measures that we have put in place. Of course we will stay very alert. If circumstances get worse, we will see whether there is a need to adjust them; if things are going smoothly, stably and safely, I think it is everybody's wish to have the scheme proceed as planned to be launched on May 26.”
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