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Drivers given online option for permits

Members of the public can now apply for an International Driving Permit (IDP) through an online service launched today by the Transport Department.   Users of “iAM Smart+” or eligible applicants holding a valid personal digital certificate may apply online via the GovHK website and receive their IDP by post, without the need to visit a licensing office in person.   If the submitted documents and photograph are in order, the department will normally send successful applicants their IDP by registered post within 10 working days of the online application being made.   The department reminded those who plan to drive outside of Hong Kong to allow sufficient time for the IDP applications to be processed.   Citizens may continue to submit IDP applications by visiting licensing offices in person. Appointments can be booked online or by calling 3763 8080 to save queuing time.   Drivers may also send in their IDP applications by post or via the drop-in boxes placed at licensi

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 gradually enhance its dual-currency stock market to be denominated and traded in both Hong Kong dollars and RMB.”   Furthermore, he pointed out that promoting the issuance and trading of RMB stocks in Hong Kong will take RMB internationalisation to the next level, catering for the escalating demands from global investors for RMB asset allocation and further consolidating the city's status as an offshore RMB business hub.   The Government will continue to assist the issuers in setting up RMB trading counters and actively take forward the implementation work with relevant Mainland institutions, he added.   The Financial Services & the Treasury Bureau briefed the LegCo Panel on Financial Affairs on the legislative proposal to exempt the stamp duty on stock transfers for specified transactions conducted by market makers for dual-counter stocks, so as to promote the liquidity of RMB-denominated stocks and price efficiency, and facilitate trading by investors.   The Government is preparing the legislative amendments with a view to introducing the bill into LegCo within this year.
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