China Says Elected Hong Kong Leader Cannot Oppose Beijing Rule

China Says Elected Hong Kong Leader Cannot Oppose Beijing Rule

China won’t allow Hong Kong to choose a chief executive who opposes Chinese government rule, as some lawmakers in the former British colony demand universal suffrage earlier than planned in 2017.

The leader of Hong Kong “can’t plot to overthrow the rule of the Chinese Communist Party,” Qiao Xiaoyang, chairman of the law committee of the National People’s Congress, said in a March 24 speech, according to a transcript posted online today. “Opposition isn’t defined to mean criticizing Beijing. If it’s for the good for the country, any sort of criticism is allowed.”

Qiao’s comments to Hong Kong lawmakers has sparked criticism from politicians including Albert Ho, who had unsuccessfully contested last year’s chief executive race, criticized the criteria. Chief Executive Leung Chun-ying was picked by a committee of billionaires, professionals and lawmakers in 2012 as the last selected Hong Kong leader, with China earlier pledging universal suffrage in 2017.

Consultations about political reform in the city shouldn’t start until that principle is agreed upon, Qiao said in the speech, which was posted on the website of the Chinese government’s office in Hong Kong.

Foreign investors will leave Hong Kong if conflict between the chief executive and Beijing leads to political instability, and Hong Kong’s status as an international financial center will be in question, Qiao said.

Benny Tai Yiu-ting, an associate professor of law at the University of Hong Kong, said yesterday he would organize protesters to block traffic in the city’s business district in July next year unless the government delivers a blueprint for universal suffrage that meets international standards, the South China Morning Post reported today.

To contact the reporter on this story: Simon Lee in Hong Kong at slee936@bloomberg.net

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: