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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

Halted works resume

The construction works of a relocation project in Kowloon put on hold since September 7 has resumed today after the contractor got the approval for works resumption, the Government said.   The project relocates supporting operational facilities of Tsim Sha Tsui Fire Station Complex, Fire Services Club and other fire services accommodations to To Wah Road in Kowloon.   The foundation works within the project’s railway protection area were suspended on September 7, when a reading recorded in a settlement monitoring checkpoint installed inside the railway tunnel between Kowloon and Olympic station of the MTR Tung Chung Line had slightly exceeded the pre-set trigger level for works suspension.   Inspections conducted by the Architectural Services, Buildings and Electrical & Mechanical Services departments and the MTR Corporation (MTRC) had confirmed the relevant railway facilities’ structural safety as well as the railway’s safe operation.   The contractor for the construction works submitted an investigation report on the incident to the Architectural Services Department, along with proposed mitigation measures and a request for resuming the suspended works.   The three departments and the MTRC conducted an inspection again and confirmed that the railway facilities are structurally safe and the railway condition fulfilled the operational safety requirements.   It was also confirmed that the works resumption will not cause an adverse effect to the relevant railway facilities and operation, and that the MTRC has implemented stringent monitoring measures to ensure railway operational safety.   Having considered the above advice, the request for works resumption was accepted yesterday and the suspended works resumed today.  
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