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...In some ways, Lai’s life follows the typical trajectory of Hong Kong’s self-made billionaires....
...After Taiwan’s presidential election last month, China was quick to rebuke the countries that congratulated the winner, Lai Ching-te, who Beijing has labelled a separatist....
...” against Hong Kong and Beijing....
...Jimmy Lai, the Hong Kong media tycoon and former owner of the now-defunct Apple Daily newspaper, has appeared in court in a long-delayed national security trial that could put him in prison for life....
...A representative from a western business chamber said it was “concerning” that Hong Kong was increasingly mirroring mainland China in prioritising national security....
...Many of the city’s leading democrats are Catholic, including media mogul Jimmy Lai, who is on trial for alleged national security crimes, barrister Martin Lee and Joseph Zen, former bishop of Hong Kong....
...“If this interference succeeds, then Taiwan would not be electing a president but a chief executive, it would become like Hong Kong,” he added....
...Analyst Nick Lai flagged concerns over the company’s slow rollout of models and an increasingly crowded Chinese EV mass market....
...But Lai also acknowledged the complexities of doing business in the region. “[It’s] actually a collection of diverse nations, with all different cultures and languages....
...HSBC declined to comment on reports of job cuts but a spokesperson said the bank was “continuing to invest and grow our business”. Morgan Stanley and Kirkland declined to comment....
...Lai has invited JW Kuo, chair of Topco Group, a TSMC supplier, and Paul Liu, former chair of PwC Business Consulting Services Taiwan, to serve as economics minister and national development council minister...
...Hong Kong’s benchmark Hang Seng index has fallen more than 15 per cent over the past year....
...Insurance group Prudential’s new business profit rose by about 45 per cent to $3.1bn last year, as its core business in Hong Kong continued to recover from the impact of coronavirus restrictions....
...India is competing with China as a global manufacturing hub, and this represents an opportunity for Taiwan to step up its business ties.”...
...“It would become like Hong Kong.”...
...The bursting of Chabaidao’s bubble will now set the tone for the Hong Kong IPO market in the coming months....
...The one-year LPR is used as the peg for business and consumer loans and the five-year LPR is used as the benchmark for mortgages. Indonesia publishes its March trade balance figures....
...“Right now it’s very difficult” to do business in China, he said, adding that he expected it to take another year or so for demand to return....
...“Relative to other markets, we are slightly more positive on Asia, as we see relatively sustained interest from investors,” says Lai....
...US’s state department said it was “alarmed” by the sweeping new law, while Lord David Cameron, the UK’s foreign minister, said the law would make it harder for those who do business in Hong Kong....
...But now that Lai has won the presidency, Beijing has toned down its rhetoric....
...“This should lead to more funding sources for unlisted companies, including start-ups,” says Lai....
...Hong Kong lawmakers have also actively courted crypto exchanges....
...Hong Kong’s benchmark Hang Seng index was flat. Ecommerce giant JD.com’s Hong Kong-listed shares rose more than 8 per cent after revenues exceeded analysts’ expectations....
...In Hong Kong, a city that is adapting to life under a Beijing-imposed national security law and introducing its own version of it, global companies are bringing in practical barriers to doing business....
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