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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

Auto parking to commence services

The automated parking system (APS) installed in a short-term tenancy (STT) car park in Tsuen Wan will commence services tomorrow, the Transport Department said today.   Located at the junction of Hoi Shing Road and Hoi Kok Street, this is the first automated parking system taken forward by the Government to further increase the number of parking spaces and spatial efficiency.   The tenant has adopted six modules of a puzzle stacking system to provide 78 automated parking spaces out of a total of 245 parking spaces at the site.   The tenancy with a fixed term of five years and thereafter monthly was awarded last December.   In addition, a short-term tenancy site at Pak Shek Kok in Tai Po is also designated for APS. Its tender assessment is in progress. The system is expected to commence services by the end of next year.   The department said the Government will examine the feasibility of adopting an APS when inviting tenders for new STT car parks or carrying out re-tendering for the existing STT car parks.   By drawing on the experiences from the APS projects at Hoi Shing Road and at Pak Shek Kok, the Government will have a better grasp of the factors affecting the feasibility of introducing an APS at different STT car parks.   The Government will continue to take APS projects forward so as to consolidate its experience and pave the way for wider APS use in public car parks in future, it added.
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