Li Ka-shing (李嘉誠), Hong Kong’s richest man, said he is full of confidence about China, issuing a three-page rebuttal of reports that he is selling out of the world’s second-largest economy.
Accusations that he is pulling investments from the country are “completely untrue,” according to an e-mailed statement issued by his companies.
Li said he is filled with respect for Chinese President Xi Jinping’s (習近平) leadership.
“At a time of economic tension in China, Li Ka-shing has abandoned China by selling extensively his assets, disregarding how Beijing has strongly assisted him in the sectors of port facilities, real estate and other infrastructural projects. His act has seriously undermined public confidence in the mainland,” said a commentary from an institute backed by Xinhua news agency, titled “Don’t let Li Ka-shing run away.”
The People’s Daily, an official newspaper of the Chinese Communist Party, also posted a commentary said on a verified social media account last week saying that Li’s gradual reduction of investments was “eye-catching” and had cast a shadow over China.
Li has faced increased scrutiny after the restructuring of his flagship companies in Hong Kong this year as well as increased investments in Europe recently.
Li said that he remains confident in “the unswerving commitment by the Chinese government toward reforms and the improvement of the business environment.”
In response to the question “Does Li love China?” he said that of the HK$17 billion (US$2.2 billion) donated by a trust fund he set up, 87 percent had gone toward Greater China. His company has also added 1,000 retail stores in the country in the past two years.
Questioned about his real estate sales, he said his company is a developer in the business of selling homes. His group has more than 20 million square meters of projects under development in China now.
Additional reporting by Reuters
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