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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

HK should be governed by patriots

Chief Executive Carrie Lam today said the need to change Hong Kong’s electoral system is to ensure that the city is governed by patriots.   Mrs Lam made the statement in response to media questions about Hong Kong & Macao Affairs Office Director Xia Baolong's remarks in an online forum this morning.   She noted Mr Xia outlined the situations where a person would not be regarded as patriotic.   “For example, a person who does not support ‘one country, two systems’, a person who feels that Hong Kong could be independent, a person who prefers to collude with another overseas authority to subvert the power of the central government and the Hong Kong Special Administrative Region Government. These people with these sorts of acts and actions could not be described as patriotic.   “If a particular person is in a very important position, then he or she should be even more patriotic.   "You have to be a very firm and decisive patriot to the extent that you would be prepared to put in your every effort to defend ‘one country, two systems’, regardless of your personal sacrifices. I think that is the distinction Mr Xia has made. It’s not between a true or false patriot.   “This need to change the electoral system and arrangements in Hong Kong is for the one single purpose, is to make sure that whoever is governing Hong Kong is patriotic."   Mrs Lam added that those who govern Hong Kong are not confined to the Chief Executive or her political team.   “It applies to various aspects in the political structure, that are the executive, the legislature, the judiciary, the district councils and the civil service. So it is not about obstructing the development of pro-democracy parties in Hong Kong.”
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