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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

East Coast Park to open

The East Coast Park Precinct Phase 1, located at the harbourfront in Fortress Hill on Hong Kong Island, will be officially opened on September 25.   Phase 1 of the precinct, with an area of about 9,800 sq m, is located to the west of Watson Road. It was previously a works area for the Central-Wan Chai Bypass (CWB) project.   In accordance with the principle of developing the harbourfront in an incremental approach, the Highways Department advanced the release of part of the site for public use even though the remaining works of the adjacent CWB project were still under way.   The precinct is also one of the 13 works projects under the $6.5 billion dedicated funding for harbourfront enhancement.   Secretary for Development Michael Wong said at the precinct opening ceremony that he was glad to witness another promenade site opened under the incremental approach.   The precinct provides a new promenade section of about 360m alongside Victoria Harbour for the public.   The entrance to the precinct is underneath the CWB flyover. Adopting the design concept of windows, the architect infused window frames of different sizes into the design of balustrades, outdoor installations and a low kerb, offering a distinctive scene for visitors as if it is being viewed through a window.   A lawn area, benches, shelters and more are also provided for public use. In addition, there is an area for children to play with painting on the ground for riders of balance bikes. The architect has also introduced slides and safety floor mats at part of the sloping seawall above the sea level in the precinct, utilising the special characteristics of the site.   The precinct is also a pet-friendly site where pet owners and their pets on leashes are welcome to visit. It will be open to the public around the clock.   One major feature of the precinct is that it provides the first breakwater officially open to the public within the harbour.   The breakwater is approximately 100m in length, allowing members of the public to enjoy the stunning shoreline of Hong Kong from a new angle at the inner harbour.   Visitors can also take in a nearly 360-degree panoramic view of the harbour from the end of the breakwater. The CWB East Vent Shaft above the breakwater was designed specifically to be in harmony with the harbour vista and was the winning entry of an exterior design competition.   In addition, the first large-scale word art installation designed under the theme of the harbour is also being exhibited in the precinct.   People can reach the precinct from MTR Fortress Hill Station by walking along Oil Street and Electric Road, and then going to the end of Watson Road, taking about seven minutes.   Design work for the remaining part of the precinct has already commenced, and the aim is for the project to be opened to the public in phases from 2024 in tandem with the boardwalk underneath the Island Eastern Corridor project.
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