HK Overhaul Approved Without A Single Opposing Vote
"); jQuery("#212 h3").html("

"); });
2021-03-11 HKT 15:31
The National People’s Congress (NPC) on Thursday officially endorsed a proposal to “refine” Hong Kong’s election system, at the conclusion of its annual plenary session.
The plan, which officials say will make sure the SAR is ruled by "patriots", was approved by the country’s top legislature with 2,895 members voting for, no one voting against, and one abstention.
The NPC Standing Committee is to make a decision on how to amend annexes 1 and 2 of the Basic Law on the chief executive and Legislative Council elections.
When that is completed, the Hong Kong government will amend local legislation.
According to Xinhua News Agency, the proposal states that changes will “ensure the administration of Hong Kong by Hong Kong people with patriots as the main body” while safeguarding people’s right to vote and to stand for election.
It says the election committee currently tasked to select the chief executive will be expanded from 1,200 members to 1,500 from various sectors.
Xinhua said the new election committee will still have Legco members and representatives of district organisations. But it did not specifically say these district organisations will include district councils.
The restructured committee will be given the new power to nominate and select some lawmakers “as well as for other matters”, according to Xinhua, but it did not say what these other matters are.
“Candidates for the office of the chief executive shall be nominated jointly by not less than 188 members of the election committee, among whom the number of members of each sector should be not less than 15,” the proposal stated.
“The election committee shall elect the chief executive-designate by secret ballot on a one-person-one-vote basis. The election of the chief executive-designate shall require a simple majority vote of all the members of the election committee.”
The proposal says Legco will be expanded from 70 to 90 members in each term – but did not say how many of them will be selected by the election committee.
A committee will be set up to review and confirm the qualifications of candidates for the election committee, the chief executive and the Legco polls.
______________________________
Last updated: 2021-03-11 HKT 15:48
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more



