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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

Cash allowance scheme set

(To watch the full press conference with sign language interpretation, click here.)   The Government will launch a three-year Cash Allowance Trial Scheme in late June to alleviate the livelihood difficulties faced by grassroots families who have been waiting for public rental housing for a long time.   At a press conference this afternoon, Permanent Secretary for Transport & Housing (Housing)/Director of Housing Agnes Wong said the cash allowance is not a rent subsidy and the recipients are not required to use it to pay for rent.   “This is purely to relieve their financial pressure while waiting for public rental housing.      “We aim to send out around 90,000 application forms to the eligible applicants by the end of this month. We urge them to complete the form and return it to us as soon as possible.”   The cash allowance amount is determined by the number of people in a public rental housing application who meet all eligibility criteria.   Along with other criteria, they must be general applicant households who have been waiting for public rental housing for more than three years without the first flat offer. Also, they must not be receiving Comprehensive Social Security Assistance (CSSA).   The cash allowance levels are about half of the current maximum rent allowance under the CSSA, ranging from $1,300 for a one-person household to $3,900 for a household with six or more people.   Successful households will receive the cash allowance on a monthly basis via bank transfer.   An initiative announced by the Chief Executive in early 2020, the scheme will run until mid-2024. The Government will conduct a review at an appropriate time.   For enquiries, call 3105 3333 or send an email.  
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