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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

Maternity leave pay scheme opens

The Labour Department today announced that the Reimbursement of Maternity Leave Pay Scheme is now open for applications from employers.   The statutory maternity leave (ML) under the Employment Ordinance has been extended from 10 weeks to 14 weeks effective from December 11, 2020.   Through the scheme, employers can apply for reimbursement of the statutory maternity leave pay (MLP) paid to employees in respect of the 11th to 14th weeks, subject to a cap of $80,000 per employee.   The department has appointed a processing agent to assist with the scheme’s implementation.   An application for MLP reimbursement must meet four requirements. Firstly, the employee concerned has been employed by the applicant and entitled to ML and MLP under the Employment Ordinance.   Secondly, the employee has taken her ML and the applicant has paid MLP for all of the 14 weeks to the employee.   Thirdly, the employee’s confinement occurred on or after December 11, 2020.   Lastly, the MLP paid to the employee for the additional four weeks has not been and will not be covered or subsidised by other government funding.   Employers, after paying employees all of the statutory MLP, may directly submit online applications through the Reimbursement Easy Portal.   Employers may also download the application form from the portal or obtain it from the department’s Labour Relations Division offices or the scheme's service centre at Unit 204, 2/F, South Island Place, 8 Wong Chuk Hang Road.   Call 2636 6353 for enquiries.
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