Reform In Line With Basic Law: Tam Yiu-chung
"); jQuery("#212 h3").html("

"); });
2021-03-05 HKT 14:18
Hong Kong’s sole deputy to the National People’s Congress Standing Committee has defended Beijing-led electoral reform for the SAR, saying it's completely in line with the Basic Law and the Chinese constitution.
Tam Yiu-chung, who's in the capital attending the annual NPC session, told Hong Kong media via a video link that the SAR's political structure and election system fall under the authority of the central government.
The pro-establishment heavyweight said the proposed changes are in line with the Basic Law because they were made in accordance with the “actual situation” of Hong Kong.
Tam expressed hope the changes will be in place in time for the Legco election, now set for September 5 after it was postponed for a year.
“Even if the legal amendments cannot be completed by the date in September, I think it doesn’t matter if it is postponed for a short period. But this is just my speculation. We will all do our best to hope to complete the legal amendment work,” he said.
The proposed changes include allowing the election committee that chooses Hong Kong's chief executive to elect “a relatively large share” of lawmakers and nominate all Legco hopefuls. Other reports said the number of Legco seats will increase from 70 to 90 and the number of election committee members will be raised from 1,200 to 1,500.
The NPC is set to discuss the proposals during its plenary session in Beijing.
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