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Balanced approach to curbing virus

(To watch the full media session with sign language interpretation, click here.)   Chief Executive John Lee today said he has asked the Secretary for Health to review the current anti-epidemic measures, aiming to strike a balance between containing the virus spread and reducing the inconvenience to travellers.   Meeting the media this morning before chairing the first meeting of the new-term Executive Council, Mr Lee said the Secretary for Health is considering how the duration of quarantine should be handled.   “I am giving him time to look at the statistics so that he will formulate some options for me to consider.”   At the same time, the Government will strive to keep the COVID-19 pandemic under control and protect those who are more vulnerable to the virus, he noted.   “One of the important measures is to make good use of the polymerase chain reaction-based nucleic acid test so that we can be certain that we will be able to identify those who are infected early, separate

Futures contract approval welcomed

The Hong Kong Special Administrative Region Government welcomed the announcement made by the Securities & Futures Commission today about the approval for Hong Kong Exchanges & Clearing to launch the MSCI China A-share index futures contract in the city.   Chief Executive Carrie Lam thanked the central government for its support during the process.   She noted that with the central government’s support, a number of mutual capital market access schemes were successfully launched over the past years.   Launching the A-shares index futures contract will expand the product scope offering in Hong Kong’s capital markets, strengthen the city’s offshore renminbi businesses and deepen the collaboration between the two capital markets.   This would contribute to the further development of the Mainland’s capital market towards internationalisation, demonstrating that Hong Kong can fully leverage its advantages and integrate into the national development.   Mrs Lam said: “I would like to express deep appreciation to the central government for supporting Hong Kong to reinforce its status as an international financial centre, and will continue to implement the targets laid down in the National 14th Five-Year Plan.”   Financial Secretary Paul Chan thanked regulators of the two places for their efforts in taking forward and implementing the initiative.   He pointed out that the futures contract to be launched by Hong Kong Exchanges & Clearing would be an offshore A-share index futures product formally approved by the Mainland authorities.   It could serve as a useful risk management tool for offshore investors participating in the A-share market while broadening the offering of financial products in Hong Kong at the same time.   Mr Chan said launching the product will further reinforce Hong Kong’s function as a global offshore renminbi business hub, an international asset management centre and a risk management centre as outlined in the National 14th Five-Year Plan.   It would also enhance Hong Kong’s competitiveness as an international financial centre, he added.
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