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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

CE-elect's office established

The Government announced today that the Office of the Chief Executive-elect has been set up to ensure a smooth transition to the new term of government following the 2022 Chief Executive Election this Sunday.   Former Director of Administration Daniel Cheng has assumed the post of Secretary-General (designate) of the office.   The office will support the Chief Executive-elect in forming a governing team and preparing for policy plans based on the Chief Executive-elect’s manifesto.   It will also collaborate with the incumbent Government for a smooth transition, including making arrangements for major events relating to the celebration of the 25th anniversary of Hong Kong’s return to the motherland, and liaise with different sectors of the community.   Housed on the 26th floor of the Immigration Tower in Wan Chai, the office will have five directorate posts and over 20 non-directorate places. It will formally operate from the day the sixth-term CE is elected and will close by June 30.   On Mr Cheng’s appointment, Secretary for the Civil Service Patrick Nip said: “Mr Cheng is a seasoned administrative officer with rich experience in public administration. I believe that he will serve with professionalism in the new capacity to ensure a smooth transition to the new term of government.”   Separately, Director-General of Trade & Industry Brian Lo will succeed Mr Cheng as Director of Administration from today.   “Mr Lo is a seasoned administrative officer with proven leadership and management skills. I have every confidence that he will serve with professionalism in his new capacity,” Mr Nip stated.
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