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Li Ka-shing responds to "withdrawal" reports

Xinhua, September 30, 2015 Adjust font size:

Li Ka-shing, chairman of Cheung Kong Property Holdings Limited and CK Hutchison Holdings Limited, told the media on Tuesday that there is no truth in "withdrawal" reports, and he is confident China's leadership is committed to improving governance and continuing on a path of economic reform.

Some articles regarding certain business operations of Li's companies circulated on the internet recently, sparking internet discussions over the tycoon's "withdrawing from China."

"Mr. Li Ka-shing would like to respond to recent misleading viewpoints criticizing our group of withdrawing from China, which generated immense interest and discussion in the media and on the internet," a statement released by Li's Cheung Kong Property Holdings Limited and CK Hutchison Holdings Limited said.

"This is our first response to the brouhaha, other articles circulating on the web are not responses from us."

It said that Li is grateful to many of his friends from the Chinese mainland, Hong Kong and other parts of the world who have conveyed to him their trust, support and concern.

"Li understands that broader freedom of expression gives voice to everyone, regrettably even for false accusations," it added.

In response to the "withdrawal" reports, the statement said that "for over 10 years, over 70 percent of the companies listing in Hong Kong, including Chinese mainland state-owned enterprises, have chosen to register using BVI vehicles. The reason for companies to choose this method is for greater flexibility."

"The reorganization of our group using Cayman Islands companies does not change the fact that the group is still registered and listed in Hong Kong. Li, through the reorganization process, has not reduced his holdings nor reaped any proceeds, therefore there is no truth in the 'withdrawal' accusations," said the statement.

"Li believes that the Chinese government is dedicated to deepening economic reforms and openness."

"We are confident that the leadership in China is and will commit to improving governance and continuing on a path of economic reform. Individual viewpoints expressed in the article are not in line with reform sentiments," said the statement. Endi