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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

Jobless rate falls to 4.5%

The seasonally adjusted unemployment rate fell by 0.2 percentage points to 4.5% for the period between July and September compared to the period from June to August, the Census & Statistics Department announced today.   The underemployment rate also dropped to 2.1% during the period.   Total employment rose by around 6,300 to 3,658,000, while the labour force stood at 3,838,600, about the same as in the previous period.   There were 180,600 unemployed people from July to September, a drop of about 7,100 from the preceding three-month period. The number of underemployed people also decreased by around 7,200 to 79,000.   Analysed by sector, the unemployment rates of most economic sectors fell in the July-September period compared with the preceding three-month period, more noticeably in the decoration, repair and maintenance for buildings sector, professional and business services sector, and arts, entertainment and recreation sector.   For the consumption and tourism-related sectors, the combined jobless rate declined by 0.2 percentage points to 7.2%.   Secretary for Labour & Welfare Dr Law Chi-kwong noted that the labour market further improved along with the increasingly entrenched economic recovery.   Looking ahead, he said the labour market conditions would depend on the pace of the economic recovery. The Consumption Voucher Scheme would also continue to render support to consumption-related activities in the near term.   However, the global pandemic development remains a key source of uncertainty over the economic and labour market outlook.   The community should stay vigilant against the COVID-19 epidemic and strive towards more widespread vaccination, Dr Law added.
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