Li Ka-shing says biggest threat to Hong Kong is failure of universal suffrage bill

Reuters News
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Posted: Feb 26, 2015 4:45 AM

HONG KONG (Reuters) - Hong Kong billionaire Li Ka-shing on Thursday said he is upbeat on the outlook for the China-controlled city, and that the biggest threat is if a Hong Kong government proposal on universal suffrage fails to get passed.

Li, 86, speaking at an earnings briefing for his companies Cheung Kong Holdings Ltd and Hutchison Whampoa Ltd, also said he has no plan to step down.

Hong Kong is moving towards a legislative vote in late June or early July that could allow citizens to vote in the city's 2017 leadership election, but only for candidates pre-screened by a pro-Beijing committee.

(Reporting by Clare Jim and Donny Kwok; Writing by Anne Marie Roantree; Editing by Christopher Cushing)