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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

August exports value up 25.9%

The value of Hong Kong’s total goods exports increased to $433.7 billion in August, up 25.9% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods jumped 28.1% to $460 billion for the same period.   A trade deficit of $26.3 billion, or 5.7% of the value of imports, was recorded for the month.   Comparing the three-month period ending August with the preceding three months on a seasonally adjusted basis, the value of exports increased 3.3%, while that of imports rose 3.7%.   The Government said the value of merchandise exports sustained notable year-on-year growth in August.   Exports to the Mainland, the US, the EU and many other Asian economies showed visible increases.   The total merchandise trade value amounted to $6.5099 trillion for the first eight months of the year, surpassing the high in the same period in 2018 by 12.8%, it added.   Looking ahead, the global economic recovery and vibrant regional trade flows should continue to support Hong Kong’s export performance in the near term.   However, the uncertainties on the economic outlook cast by the COVID-19 pandemic development, China-US relations and heightened geopolitical tensions also warrant attention, the Government noted.
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