Hong Kong will lose out to other Chinese cities within five years if local lawmakers do not take quick decisions and clear important legislation, business tycoon Allan Zeman has warned.
The South China Morning Post quoted Zeman, who is the chairman of Ocean Park and Lan Kwai Fong Holdings, as saying that the city faces a major threat from Shanghai, where several big entertainment projects are due to be completed in the next three years.
He singled out the Legislative Council for criticism, saying it was dragging its feet on crucial matters.
“The chief executive [Leung Chun-ying] does not have the support in the Legislative Council. Legco is blocking government legislation … it is filibustering on the budget bill. Everything is so slow,” Zeman was quoted as saying.
The comment came after lawmakers submitted 1,917 amendments to the budget bill, which is likely to trigger a marathon debate running from next Wednesday until June at the earliest, the report noted.
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