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Hong Kong Tycoons Emerge as Losers From Xi's Election Revamp

Hong Kong Tycoons Emerge as Losers From Xi’s Election Revamp
Bloomberg
2 hrs ago
Shirley Zhao
(Bloomberg) When China regained control of Hong Kong more than two decades ago, the Communist Party entrusted the city’s wealthiest tycoons with enormous influence over local politics.
This week President Xi Jinping took his most dramatic step yet to grab some of that power back.
Xi’s sweeping overhaul of Hong Kong’s electoral system aimed at neutralizing pro-democracy voices will curtail the clout of billionaires such as Li Ka-shing and Lee Shau-kee who used to wield effective control over a quarter of the seats on the 1,200-member Election Committee that decides Hong Kong’s chief executive. ....

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HK tycoons lose in election revamp - Taipei Times

HK tycoons lose in election revamp
Bloomberg
When Beijing regained control of Hong Kong more than two decades ago, the Chinese Communist Party entrusted the territory’s wealthiest tycoons with enormous influence over local politics.
This week, Chinese President Xi Jinping (習近平) took his most dramatic step yet to grab some of that power back.
Xi’s sweeping overhaul of Hong Kong’s electoral system aimed at neutralizing pro-democracy voices will curtail the clout of billionaires such as Li Ka-shing (李嘉誠) and Lee Shau-kee (李兆基), who used to wield effective control over one-quarter of the seats on the 1,200-member Election Committee that decides Hong Kong’s chief executive. ....

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Hong Kong Tycoons Emerge as Losers From Xi's Election Revamp

Hong Kong Tycoons Emerge as Losers From Xi's Election Revamp
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

United Kingdom , Hong Kong , University Of Hong Kong , Hong Kong General , Li Ka Shing , Lee Shau Kee , Hua Chunying , Li Hong Kong , Giulia Marchi Bloomberg , Adrian Cheng , Adam Kwok , Henry Tang , Anthony Kwan Bloomberg , Ronnie Chan , Justin Chin Bloomberg , Leung Chun Ying , Conrad Hong Kong , Bloomberg New Economy Forum , Bloomberg Television On , Ng Of Sino Group , China Foreign Ministry , Cheng New World Development Co , Chinese University Of Hong Kong , Chinese University Of Hong Kong Choy , Kwok Sun Hung Kai Properties Ltd , European Union ,

China Stymies Sale of U.S. Consulate Staff Site in Hong Kong

China Stymies Sale of U.S. Consulate Staff Site in Hong Kong
Bloomberg
12/30/2020
Peter Vercoe
© Bloomberg
Residential buildings stand in the Shouson Hill, center, and Deep Water Bay, right, areas of Hong Kong, China, on Monday, Jan. 15, 2018. For the eighth year in a row, Hong Kong holds the dubious distinction of being the world s least affordable city in which to buy a home.
(Bloomberg) China has halted the sale of the U.S. consulate staff compound in Hong Kong, citing Washington’s failure to secure approval from Beijing for the $332 million deal.
Hang Lung Properties Ltd., which in September agreed to pay HK$2.57 billion ($332 million) for the site, said Wednesday it was unable to complete the purchase. Hong Kong’s Land Registry has informed the developer the sale involves foreign affairs between China and the U.S. and can’t be regarded as an ordinary commercial transaction, Hang Lung said in a stock exchange filing. ....

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