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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

Govt responds to claw machine ruling

The Department of Justice will consider appropriate follow-up action for court rulings on cases concerning the operation of two claw machine venues that do not require a places of public entertainment licence (PPEL).                In a statement, the Government today said that places installed with mechanical devices known as "claw machines" involving amusements with prizes which draw crowds and the operators concerned have the right to control public admission.   Generally speaking, these places come under the Places of Public Entertainment Ordinance licensing requirement and therefore the relevant operators have all along been applying for a PPEL from the Food & Environmental Hygiene Department (FEHD).   The statement noted that the relevant policy and licensing requirement have been effective and will continue to apply to all places of public entertainment. The FEHD will continue its enforcement actions against unlicensed places of public entertainment to ensure public safety and order at these places.   For the organisation of any public entertainment events/activities including those specified under the Places of Public Entertainment Ordinance at any places (except those specified under the Places of Public Entertainment (Exemption) Order), and provided that the relevant operator has the right to control public access to the premises, the organiser must apply for a PPEL in accordance with the ordinance regardless of whether the general public is admitted with payment.
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