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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

Christopher Hui inspects e-payment

Secretary for Financial Services & the Treasury Christopher Hui visited Smithfield Market in Kennedy Town today to inspect the use of electronic payment (e-payment) by stall operators and customers there.   Mr Hui visited several stalls to learn about operators' feedback and their customers' reviews on the use of e-payment in aspects such as efficiency, transaction fee and adaptability.   He pointed out that e-payment is fast and convenient, making it an irreversible trend in retail development. Under the pandemic, contactless payment is also in line with the public health perspective.   He said the Consumption Voucher Scheme announced by the Financial Secretary at the Budget has brought multiple benefits by significantly encouraging the use of e-payment and accelerating the application of fintech in daily life.   With the popularisation of e-payment, Mr Hui said he believed that stored value facilities (SVF) operators will progressively reduce their fees as a result of competition in future, which will in turn benefit merchants.   Since the announcement on the selection of the four SVF operators to assist in implementing the Consumption Voucher Scheme in April, the number of consumer accounts of the four operators and the number of merchants accepting e-payment have increased by more than 3.3 million and 80,000 as of the end of September.   Mr Hui also called on stall operators and the public at Smithfield Market to exercise their right to vote on the polling day of the 2021 Legislative Council General Election on December 19.   He noted there will be competition in the Election Committee, functional and geographical constituencies in the upcoming Legislative Council General Election, adding that the active participation of voters is of utmost importance to bring a new style of policy discussion to the Legislative Council.   “I strongly believe that a diverse and pragmatic legislature which cares about the well-being of the public will be conducive to Hong Kong's future economic and financial development,” Mr Hui said.
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