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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

Universal suffrage goal unchanged

(To watch the full press conference with sign language interpretation, click here.)   Chief Executive Carrie Lam today assured Hong Kong that the ultimate objective of universal suffrage will not change after improvements are made to the city's electoral system.   At a press conference this afternoon, Mrs Lam noted that the central government is sincere in giving Hong Kong people more democracy to achieve universal suffrage.   "On three occasions since 1997, the National People's Congress Standing Committee has passed decisions or interpretations to allow us to move forward. But who (have) jeopardised those improvements? I am sure you have an answer.   "As lately as the last one, which was conducted by me as a team leader - and I am very convinced now that that was a very good package that would enable Hong Kong people to choose the Chief Executive by one person, one vote - but that was vetoed by the so-called pro-democracy members in the Legislative Council.   "So we could not blame the central government. We could not blame the Hong Kong Special Administrative Region Government."   She added that the improvements to the electoral system aim to plug the existing loopholes and restore Hong Kong's stability.   "What we have seen since around 2014, the Occupy Central movement, the Mong Kok riots and then we had the Fugitive Offenders Ordinance and all these riots. And then we had the 35-plus (plan) and all these things that get people very worried about what would happen if we did not plug the loopholes in the Hong Kong electoral system.   "So it is for that reason that this set of improvements has to be put in place in order to ensure that Hong Kong's electoral system is in line with 'one country, two systems'. But the ultimate purpose of universal suffrage is still there. It has not been changed.   "So what will happen is, as we move ahead, with the current set of improvements in place, then in accordance with Hong Kong's actual situation and in an orderly and gradual manner and meeting the requirements in Basic Law Article 45, I am quite certain that we will still have universal suffrage in selecting the Chief Executive."
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