LONDON — Alibaba, the Chinese e-commerce giant, has postponed plans to list its shares on the Hong Kong Stock Exchange, according to two people briefed on the matter, as protests continue to rock the Asian financial capital. The protests and the instability they created in Hong Kong’s stock market led to the postponement of the offering, which had been expected to take place later this month, according to these people. The offering had been expected to raise $10 billion to $15 billion, one person said. Protests have disrupted the city for months and have begun to disrupt the commerce that makes up its lifeblood. Many economists are now predicting its economy will shrink in coming months because of both the antigovernment demonstrations and the worsening trade war between the United States and China. It is not clear when the company plans to stage the stock offering. A spokesman for Alibaba declined to comment on the plans, which were reported earlier by Reuters. Hong … [Read more...] about Alibaba Postpones Hong Kong Listing as Protests Roil Markets
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China Uses Disney’s ‘Mulan’ to Attack Hong Kong Protests
Photo: Courtesy Of Disney Photo: Courtesy Of Disney Image 1 of / 1 Caption Close Image 1 of 1 Photo: Courtesy Of Disney China Uses Disney’s ‘Mulan’ to Attack Hong Kong Protests 1 / 1 Back to Gallery Although Twitter and Facebook have taken steps to stop what they say is a Chinese state-backed misinformation campaign about the anti-government protests in Hong Kong, similar content from suspicious accounts continues to proliferate widely, some of it co-opting Disney‘s new “Mulan“ to try to discredit the demonstrators. At the same time, China‘s government-controlled media are praising the film and pushing back against calls for a boycott after its star, Crystal Yifei Liu, sparked a firestorm of controversy with … [Read more...] about China Uses Disney’s ‘Mulan’ to Attack Hong Kong Protests
Hong Kong protests disrupt flights, subways as strike called
HONG KONG (AP) — At least 100 flights were cancelled and subway service widely disrupted in Hong Kong on Monday as a pro-democracy movement called for a general strike. Cathay Pacific and other domestic carriers such as Hong Kong Airlines were the most affected by the flight cancellations, public broadcaster RTHK said. Airport express train service was also suspended. A citywide strike and demonstrations in seven districts in Hong Kong have been called for Monday afternoon. They follow a weekend of clashes with police on the streets. Hong Kong has seen protests all summer. A movement against an extradition bill that would have allowed residents to be sent to mainland China to stand trial has expanded into demands for an investigation into alleged police abuse at protests and the dissolution of the legislature. Protesters also want full democracy for the semi-autonomous Chinese territory. Protesters snarled the morning rush hour by blocking train and platform doors to prevent … [Read more...] about Hong Kong protests disrupt flights, subways as strike called
How democratic is Hong Kong?
By Philip Whiteside, international news reporterHong Kong has been the scene of ongoing protests over claims China has increasing influence over the territory.Many have been concerned this breaches the "one country, two systems" principle, set up when Britain handed Hong Kong back to the Chinese.But what exactly is the Hong Kong system and how is it different from China's?In 1984, the governments of UK prime minister Margaret Thatcher and Chinese premier Zhao Ziyang agreed that, with the 99-year lease on the city of Kowloon due to run out in 13 years, the Hong Kong territory would be handed back to the communist People's Republic in 1997. Advertisement It was agreed and later ratified by the United Nations that the territory would be part of China but would continue to operate under a different system of government for 50 years after the handover - an arrangement known as "one country, two systems".Before the handover, laws were drafted by joint committees, to act … [Read more...] about How democratic is Hong Kong?
Hong Kong leader says extradition bill is dead, but critics…
HONG KONG (Reuters) - Hong Kong leader Carrie Lam said on Tuesday the extradition bill that sparked the Chinese-ruled city’s biggest crisis in decades is dead and that government work on the legislation had been a “total failure”, but critics accused her of playing with words. The bill, which would allow people in Hong Kong to be sent to mainland China to face trial in courts controlled by the Communist Party, sparked huge and at times violent street protests and plunged the former British colony into turmoil. In mid-June, Lam responded to protests that drew hundreds of thousands of people on to the streets by suspending the bill, but that did not stop demonstrations that shut government offices and brought parts of the financial center to a standstill. Her latest attempt to restore order did not satisfy many protesters who stood by demands that she completely withdraw the bill. “There are still lingering doubts about the government’s sincerity or … [Read more...] about Hong Kong leader says extradition bill is dead, but critics…