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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

IP protection awareness remains high

Hong Kong has maintained a high level of awareness of intellectual property (IP) rights protection and respect for such rights, the Intellectual Property Department said today.   The department announced the results of the Survey on Public Awareness of Intellectual Property Right Protection and noted that a total of 1,000 people responded to the survey.   An overwhelming 92.9% of respondents considered it necessary to protect IP rights in Hong Kong, while over 87% were aware that copyright, trademarks and patents are protected under the laws of Hong Kong.   The department pointed out that most of the respondents believed that IP rights protection could help attract foreign investments and the development of local creative industries in the long run.   Meanwhile, 92.8% of the respondents said they had seldom or never bought pirated or counterfeit goods, and 86.2% agreed that it is morally wrong to buy pirated or counterfeit goods knowing that it is an infringement of IP rights.   Additionally, 83.9% of the respondents who purchased products with brands or logos online said they would pay attention to whether the products were genuine, which reflected a significant increase from the results in 2018.   On the use of copyright content, 57.2% of the respondents indicated that they would either definitely or possibly pay authorised websites for listening to songs, watching movies online or downloading songs, movies, computer software, etc, representing a continued upward trend since 2008.   About 80% of the respondents shared the view that it is morally wrong to listen to music or watch movies and TV shows online knowing that they were pirated versions.   Director of Intellectual Property David Wong emphasised that the department has all along been striving to raise the public awareness of IP rights at all levels through various educational and promotional programmes.   "We will keep up our efforts in promoting IP rights protection to underpin the development of Hong Kong as a knowledge-based economy," he added.
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