Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Final hours: unlock premium data with Claim 60% OFF
HKEX CEO says 'fundamental flaws' in HK's system of governance
Published Oct 30, 2019 09:51AM ET
LONDON (Reuters) - Hong Kong bourse Chief Executive Charles Li said there are fundamental flaws in the "one country, two systems" formula that govern the former British territory.
The comments by Li mark a rare public condemnation from a senior Hong Kong business executive of the Beijing-backed administration under which the territory is ruled at a time when it is grappling with its biggest political crisis in decades.
"The great concept, the great creation of one country, two systems is really, has some fundamental flaws at the very beginning of the implementation," he said.
Li was speaking at an event in London late on Tuesday after the Hong Kong Exchanges and Clearing Ltd (HK:0388) earlier this month scrapped an unsolicited $39 billion approach for London Stock Exchange Group (L:LSE).
Five months of sometimes violent protest in the Asian financial hub have rattled investors and pose one of the gravest challenges to Chinese President Xi Jinping since he came to power in Beijing in 2012.
Hong Kong was handed from British to Chinese rule in 1997 under the "one country, two systems" formula, which guarantees freedoms not granted in mainland China.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.