Hong Kong tycoon Li Ka-shing donates $128 mln to support local business

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Hong Kong tycoons and property developers have come under pressure from Beijing for not doing enough to alleviate housing problems in the Chinese-ruled city.

HONG KONG — Hong Kong’s richest man Li Ka-shing will donate HK$1 billion to support local small and medium sized businesses, his foundation said on Friday, a move that comes as the city’s economy has been roiled by pro-democracy protests.

Li has said that he deeply regrets that his comments made regarding the protests were misrepresented and reiterated that any actions that violate the rule of law cannot be tolerated.

 

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