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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

Flight landing rules tightened

The Government today announced that it will further tighten the criteria of place-specific flight suspension mechanism and prohibit all passenger flights from Nepal from landing in Hong Kong from May 1.   Under the tightened mechanism, the Government will extend the measure to prohibit all passenger flights from India, Pakistan and the Philippines from landing in Hong Kong from May 1.   Starting from the same day, Nepal will also be specified as an extremely high-risk place under the Prevention & Control of Disease (Regulation of Cross-boundary Conveyances & Travellers) Regulation to restrict people who have stayed in the four places from boarding for Hong Kong.   The Government explained that it implemented the mechanism on April 14.   Under it, if a total of five or more passengers among all flights from the same place, regardless of airline, were confirmed by arrival tests for COVID-19 with the N501Y mutant strain within a seven-day period, the Government would invoke the regulation to prohibit all passenger flights from that place from landing in Hong Kong for 14 days, and would specify that place as an extremely high-risk place to restrict people who have stayed there for more than two hours from boarding passenger flights for Hong Kong for 14 days.   In view of the continually unstable global epidemic situation, the Government decided to introduce a new criterion having considered the actual operation of the mechanism.   If a total of 10 or more passengers were confirmed positive by any tests, including tests conducted during quarantine, with the N501Y mutant strain or relevant virus mutation within a seven-day period, the flight suspension mechanism would also be triggered.   As a measure to manage the flight resumption arrangements more cautiously under the mechanism, the Government will conduct risk assessments every two weeks for comprehensive reviews of relevant factors such as the epidemic situation of the relevant places, vaccination rate, and the prevalence of new virus variants before determining whether it is appropriate to remove the flight suspension.   Due to the need to review the epidemic situation of the place concerned, the flight suspension mechanism will not be lifted automatically.
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