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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

16 DC oaths confirmed invalid

Secretary for Home Affairs Caspar Tsui determined that oaths taken by 16 District Council members on October 8 were invalid.   The oath-taking ceremony covered members of the Tsuen Wan, Tuen Mun, Yuen Long, Kwai Tsing and the Islands district councils. Of the 68 members who took oaths, Mr Tsui as the oath administrator confirmed that 51 were valid.   For the remaining 17 members whose oaths were in question, one member tendered her resignation on October 11 and Mr Tsui confirmed today that the other 16 members' oaths taken were invalid after considering their replies and all relevant information.   The decision is based on the principles laid down in the Interpretation of Article 104 of the Basic Law by the National People's Congress Standing Committee and the relevant legal provisions.
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