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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

Intimidating acts condemned

The Government said today that intimidation against judges and judicial officers is unacceptable to Hong Kong which observes the rule of law and it will spare no effort in bringing the culprits to justice to safeguard the public peace.   The Department of Justice issued a statement in response to threatening letters received by the West Kowloon and Sha Tin Magistrates' Courts.   The statement said that in exercising judicial power, judges are required to handle cases strictly in accordance with the applicable law and evidence.   Article 85 of the Basic Law guarantees the courts of the Hong Kong Special Administrative Region shall exercise judicial power independently, free from any interference, it added.   Strongly deploring recent cases of criminal intimidation against judges, the department said that under section 24 of the Crimes Ordinance, anyone who threatens any other person with injury to him or her shall be guilty and liable to imprisonment for five years.   The Judiciary expressed grave concerns about recent repeated incidents involving intimidating letters sent to judicial officers and it has reported the cases to Police.   It said attempts to exert improper pressure on judges and judicial officers represent a direct challenge to the rule of law and the principle of judicial independence and added that such acts must be severely condemned.
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