Media mogul and pro-democracy activist Jimmy Lai. Picture: REUTERS/TYRONE SIU
Lai — the 73-year-old founder of the pro-democracy Apple Daily newspaper — pleaded guilty to organising one protest, while pleading not guilty to taking part in it. Ho — a former Democratic Party chief and candidate for Hong Kong CEO — pleaded guilty to organising, announcing and inciting others to take part in a demonstration.
The move marks the first time local authorities have used the security law to freeze the shares of a major investor in a listed company, a step that could spook investors in the financial centre. More than 40% of members surveyed by the American Chamber of Commerce in Hong Kong said they might leave the city, highlighting the business community’s concern over the security law and the government’s handling of Covid-19.
Emily Lau, a former legislator and former chair of the Democratic Party, called the freezing of Lai’s assets very alarming and said the government should explain the move.
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