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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

Sept inflation up 1.4%

Overall consumer prices rose 1.4% in September year-on-year, smaller than the 1.6% growth in August, the Census & Statistics Department announced today.   Netting out the effects of the Government’s one-off relief measures, September’s underlying inflation rate went up 1% compared to a year earlier, also smaller than the 1.2% recorded in August.   Compared with September last year, price increases were seen in electricity, gas and water, clothing and footwear, transport, meals out and takeaway food, durable goods, basic food and miscellaneous services.   On the other hand, year-on-year decreases in miscellaneous goods, housing as well as alcoholic drinks and tobacco were recorded.   The Government noted that the underlying consumer price inflation rate eased to 1% in September as the effect of the upward adjustment in public housing rentals in the same month last year dissipated and the year-on-year increase in prices of meals out and takeaway food narrowed due to the base effect.   Meanwhile, pressures on many other consumer price index components remained modest.   Looking ahead, while overall inflationary pressures will likely increase in the near term alongside the continued economic recovery and rising import prices, the underlying inflation should remain largely moderate in the rest of the year as the local economy is still operating below capacity, it added.
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