HK's New Leader Is Already Decided: Lau Siu-kai

"); jQuery("#212 h3").html("

"); });
2022-04-04 HKT 20:43
A leading member of Beijing's top think on Hong Kong has described Carrie Lam's decision not to run for a second term as Chief Executive as a "wise" move.
Lau Siu-kai, a vice-president of the Chinese Association of Hong Kong and Macau Studies, told RTHK the Covid-19 pandemic and the social unrest in 2019 had eroded her popularity, making it difficult for her to govern the city for another term.
"If she seeks another term, she might have difficulty obtaining the trust or the support from the central government or even the members of the Election Committee," Lau said.
"Even if she was re-elected, her low popularity and low capacity to govern will make it quite difficult for her to meet the challenge that Hong Kong will face in the years ahead."
At a press conference on Monday, Lam said she would complete her current term on June 30 and retire, wrapping up more than 40 years of public service. She said the sole reason she is stepping down is because her family think "it's time for me to go home."
Lam said she had informed Beijing of her decision in March last year and the leaders "understood and respected" her wish.
Lau said Hong Kong will need a strong leader in the next five years, and he believes the central government has already decided who that should be.
"Beijing has already prepared for the new person to run Hong Kong within a very short period of time," he said, adding that "Beijing might even have made some arrangements for the new team to come into place afterwards.
"So before Mrs Lam can announce her decision to step down, she needs to have Beijing's support in the first place and to allow Beijing enough time to make the preparations for her departure."
TOPPAN Edge Becomes Japans First Qualified VLEI Issuer
The Global Legal Entity Identifier Foundation (GLEIF) has announced TOPPAN Edge, a subsidiary of TOPPAN Holdings that p... Read more
SFC And Dubais DFSA Partner On Cross-Border Regulatory Cooperation
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (D... Read more
Toss To Launch Finance Super-App In Australia, Plans Won-Based Stablecoin
South Korea’s fintech unicorn Toss is preparing to launch its finance super-app in Australia before the end of this y... Read more
China Funds Research On Stablecoins And Cross-Border Oversight
China’s largest government-backed research funder has begun accepting applications for studies on stablecoins and the... Read more
XTransfer, CZBank Shanghai Branch Form Cross-Border Finance Partnership
XTransfer has entered into a partnership with the Shanghai branch of China Zheshang Bank (CZBank). The agreement was si... Read more
Brinc Launches VentureVerse Through Acquisition Of OG Club
Brinc, a Hong Kong-based venture acceleration and corporate innovation firm, has acquired OG Club, a decentralised auto... Read more