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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

$150m methamphetamine seized

Customs seized about 230kg of suspected liquid methamphetamine with an estimated market value of about $150 million at the airport.   This is the largest airborne liquid methamphetamine trafficking case detected by Customs in nearly two decades.   Through risk assessment, customs officers inspected an air cargo consignment, declared as carrying 7,680 bottles of coconut oil, arriving in Hong Kong from Mexico on September 14.   The batch of suspected liquid methamphetamine was found concealed inside 1,920 bottles.   A 45-year-old man suspected to be connected to the case was arrested at the airport on the same day.   Customs reminded the public that the maximum penalty for trafficking a dangerous drug is a fine of $5 million and life imprisonment.   The public may report suspected drug trafficking activities to the Customs’ hotline 2545 6182 or by email.
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