Skip to content

HK01: Xi Jinping Said, “The Days When the Hong Kong Real Estate Tycoons Influenced Hong Kong Policy Are Gone

HK01 reported on September 21 that, in 2018, Xi Jinping made a clear statement in an internal meeting of the Chinese Communist Party’s (CCP’s) Hong Kong and Macau Coordination Group. He Stated, “The days of the Hong Kong business community influencing the Central Government’s policies on Hong Kong are gone.” A source familiar with the situation said that the “Hong Kong business community” actually refers to the real estate developers there.

The article also reported that the richest real estate tycoon invited key officers from the Office for Safeguarding National Security of the Central People’s Government in Hong Kong for a family banquet. The tycoon had all important members of his family attend the banquet. He explained (to one of the key officers) that his family’s comments during the anti-Extradition Law movement were not “sympathetic to the gangsters or the violence.” {Editor’s comment: This is likely referring to Li Ka-shing, who is Hong Kong’s richest man and also published a neutral-toned page in the newspaper regarding the Hong Kong protest. Some people felt his message was pro-Hong Kong protesters.}

The article mentioned that Reuters recently reported that Beijing requested Hong Kong real estate developers to solve the housing shortage problem. It stated, “The rules of the game have changed” and Beijing will no longer tolerate “monopoly.”

For a while, the CCP has not been happy with Hong Kong’s real estate tycoons. During the anti-Extradition Law protest, these tycoons remained silent. It was not until a mainland newspaper criticized them for not lining up with the central government that they start making statements to support the government’s actions to “stop violence.” In September 2019, the People’s Daily also blamed the Hong Kong protest on the real estate developers for making the housing prices unaffordable.

In July this year, Xia Baolong, the Director of the Hong Kong and Macao Affairs Office of the State Council (central government), stated that he expects the housing problem in Hong Kong will be greatly improved.

HK01 is a newspaper close to Xi Jinping’s group.

Source: HK01, September 21, 2021政情/679198/01消息-習近平內部會議明言-地產商-左右治港-已一去不復返