Hong Kong billionaire Michael Kadoorie says he is confident the new national security law Beijing plans for the city will help it prosper, but he has called on the government to allay the public’s fears and secure its backing for the proposal.
The energy and hotel tycoon is the latest business heavyweight to try and rally people behind the contentious legislation, which targets secession, subversion, terrorism and foreign interference in Hong Kong’s affairs.
The 78-year-old’s family first arrived in Hong Kong to settle 140 years ago. Forbes has ranked him the 11th wealthiest person in the city, with a US$7.5 billion fortune.
Kadoorie, who is the chairman of electricity utility CLP Holdings, said it was “disheartening to see the lack of harmony” in the city.
“We believe all countries have the sovereign right and obligation to take the necessary measures to ensure national security,” he told the Post.
“Under ‘one country, two systems’, only a stable social and political environment can continue to make Hong Kong an attractive place to invest and do business.”
He added: “We are confident that through the enactment of the appropriate legislation in Hong Kong and with the resilience of the Hong Kong people, the city will continue to grow and prosper for many more decades to come.
During this period of uncertainty, it is crucial for the government to explain to the public the importance of safeguarding national security and gain support of the proposed legislation - Michael Kadoorie
“During this period of uncertainty, it is crucial for the government to explain to the public the importance of safeguarding national security and gain support of the proposed legislation.”
The national security law could be in place by August following the passing of a resolution last month by China’s top legislature, the National People’s Congress, to empower its standing committee to craft the legislation.
Beijing has said it needed to bring forward national security legislation tailor-made for Hong Kong to protect prosperity and stability, but opposition politicians and critics warned it could be used to suppress dissent and erode freedoms.
Kadoorie, whose empire includes the luxurious Peninsula hotels through his stake in Hongkong and Shanghai Hotels, said: “Through the years, Hong Kong has seen many challenges but I have a strong belief in our future.
“My father once said to me that Hong Kong is like a rubber ball: the further it drops the higher it bounces back – a testimony to the resilience, fortitude and ‘can-do’ spirit of the people of Hong Kong.”
The tycoon, who tends to keep a low public profile, stepped forward in August last year to call for an end to the violence during the anti-government protests sparked earlier that summer by the now-withdrawn extradition bill.
In an open letter to the city, he called for all Hongkongers to rebuild trust and create hope for the younger generation rather than leave them in “desperation or despair”.
On Thursday, conglomerate Swire Pacific came out in support of the new law, saying it would “be beneficial for the long-term future of Hong Kong as a world-leading business and financial centre”.
In an attempt to dispel concerns about the law, Li Ka-shing, founder of CK Asset Holdings and CK Hutchison Holdings, last month said: “It is within each and every nation’s sovereign right to address its national security concerns. We need not over-hypothesise it.”
Li, the second-richest man in Hong Kong added its government had a “mission-critical task” to strengthen the confidence of Hong Kong people and to reinforce the international community’s trust in the one country, two systems principle.
Peter Woo Kwong-ching, former chairman of Wheelock and Company and Wharf Holdings, said the law was needed in the context of what he described as a “new cold war”, adding Hong Kong would lag behind other parts of the world without it.
Following the release of its new book, Rebel City: Hong Kong’s Year of Water and Fire, SCMP will be following up with a webinar on June 9. Titled “”, the event will feature our award-winning journalists behind the book as they share their perspectives, reflections and stories about the city’s most devastating political and social crisis since its return to Chinese rule. The date also marks the one-year anniversary of the mass protests that were first sparked by the government’s now-withdrawn extradition bill. What are the lessons to be drawn and how can the city move forward? “” on June 9 for a fascinating panel discussion.
