SINGAPORE - China has called on its biggest state firms to take a more active role in Hong Kong, including stepping up investment and asserting more control of companies in the financial hub, executives familiar with the matter said, as Beijing attempts to calm months of unrest in the city.
At the meeting, the SOEs pledged to invest more in key Hong Kong industries including real estate and tourism in a bid to create jobs for local citizens and stabilize financial markets, two of the executives said, speaking on condition of anonymity to discuss internal deliberations. No specific investments were discussed or agreed upon, they said.
SASAC did not respond to a faxed request for comment from Reuters. Officials at Sinopec and China Merchants Group did not respond to emailed requests for comment and calls to the two companies went unanswered. SASAC’s Communist Party chief, Hao Peng, appeared in Hong Kong on Wednesday at a forum for the Belt and Road infrastructure initiative and said that SOEs were looking for ways to cooperate in major projects in the city, according to a SASAC news release.
Widening mainland influence in Hong Kong has included the purchase of corporate assets and real estate.
To local tycoons: More erosion is coming Take your side, HongKongers , who are dedicated to democracy and equlity , OR the dictator, China, who demands 100% conformity. Winter is coming. HongKongProstests HKHumanRightsandDemocracyAct GloryToHongKong SanUkLing
Not the best headline CCP is asking those state firms to take more control in those vital businesses in HK since those of local HK though kneel down but didn't lick well enough (probably)
Watch out world! The first step of the CCP is to take the right to control all the business in Hongkngong. Then, she will gradually control the whole world.
With the Hong Kongers hatred for mainland China, the Hong Kong employees, when taken on, would only sabotage the companies.... given this hatred that's becoming more and more deep-seated by the day........
Good luck with that.