Skip to main content

Featured

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

Arbitration law changes proposed

The Government will introduce legislative amendments to the Arbitration Ordinance. The bill will be gazetted on February 19 and introduced into the Legislative Council on February 24.    The amendment aims to fully implement the Supplemental Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the Hong Kong Special Administrative Region signed between the Hong Kong SAR Government and the Supreme People's Court of the People's Republic of China last year.   The purpose of signing the supplemental arrangement is to bring it more fully in line with the current practice of international arbitration, including aligning the definition of the scope of arbitral awards with the prevalent international approach of "seat of arbitration" under the New York Convention.   It also allows parties to make simultaneous applications to both the courts of the Mainland and the Hong Kong SAR for enforcement of an arbitral award.   The Government noted that the implementation of the supplemental arrangement in full will be conducive to the promotion of the development of Hong Kong's legal and dispute resolution services.   It added that Hong Kong's status as an international legal hub for legal, deal-making and dispute resolution services will be further enhanced. 
http://dlvr.it/Rsw7tx

Popular Posts