newspaper warned Monday it is unable to pay staff and is at imminent risk of closure after the government froze the company’s assets using a sweeping new national security law.has long been a thorn in Beijing’s side, with unapologetic support for the city’s pro-democracy movement and caustic criticism of China’s authoritarian leaders.
Mark Simon, an aide to Lai, said the freeze order by the city’s security chief last week had crippled the newspaper’s ability to do business.is not that we don’t have funds, we have US$50 million dollars in the bank,” he told CNN. Lai, 73, is in prison for attending democracy protests in 2019. He faces a life sentence if convicted of national security crimes.
Two of those executives — chief editor Ryan Law and CEO Cheung Kim-hung — have been charged with “colluding” with foreign forces to undermine China’s national security and were remanded into custody over the weekend.
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