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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

1.7% inflation in Mar

Overall consumer prices rose 1.7% in March year-on-year, larger than the 1.6% increase in February, the Census & Statistics Department announced today.   Netting out the effects of the Government’s one-off relief measures, the year-on-year rate of increase in March’s underlying inflation rate was also 1.7%, larger than the average increase rate of 1.5% in January and February.   Compared with March last year, price increases were recorded for basic food; transport; clothing and footwear; meals out and takeaway food; durable goods; miscellaneous services and miscellaneous goods.   On the other hand, decreases in electricity, gas and water and housing were recorded.   For alcoholic drinks and tobacco, there was no change in price.   The Government said that the elevated prices of fresh vegetables in the month gave rise to the price surge of basic food over a year earlier. Prices of energy-related items and transport also recorded visible increases.   Looking ahead, the Government said inflation in many major economies may stay high in the near term amid heightened geopolitical risks and supply and transportation bottlenecks, leading to faster increases in the prices of imported items.   Still, the overall inflation should remain largely in check as domestic rentals stay soft, it added.
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