Date
26 September 2017
Li Ka-shing (center) has made significant contributions to the motherland, China's official news agency admitted, seeking to put to rest previous criticism over the tycoon's mainland asset sales. Photo: HKEJ
Li Ka-shing (center) has made significant contributions to the motherland, China's official news agency admitted, seeking to put to rest previous criticism over the tycoon's mainland asset sales. Photo: HKEJ

Xinhua acknowledges Li Ka-shing’s contributions to China

After taking a critical tone recently against Li Ka-shing over the tycoon’s mainland asset sales, China’s state media is now being more charitable toward the Hong Kong billionaire.

Two articles carried by Xinhua News Agency this week highlighted Li’s investments and business activities in Southern China and acknowledged his contribution to the nation’s development.

One of the articles described in detail the Liwan 3-1 deepwater gas development that was undertaken through a partnership between Li’s Husky Energy and the mainland state oil giant China National Offshore Oil Corp.

The deepwater gas well has provided 3.6 billion cubic meters of natural gas to the Pearl River Delta since it commenced production last year, the article noted.

Meanwhile, another story pointed out that Li’s charity foundation had donated US$130 million for the construction of the Technion Guangdong Institute of Technology (TGIT), which will break ground in December, the Hong Kong Economic Journal reported.

The new polytechnic college will begin taking students from June next year for the new school year starting in September.

The two positive articles on Li suggest that the previous criticism of the tycoon by some mainland media outlets may not have been endorsed by the top Chinese leadership, Andy Kwan Cheuk-chiu, economist and director of the ACE Centre for Business and Economic Research, told HKEJ.

Authorities may be seeking to put the anti-Li tone to rest and soothe the feelings of Hong Kong’s business community as mainland officials prepare for a key meeting next week to discuss issues related to the nation’s 13th Five-Year Plan.

[Chinese version中文版]

When a tycoon is upended by politics (Oct. 2, 2015)

Home is where the heart is for Li Ka-shing (Sept. 30, 2015)

Why Beijing should let Li Ka-shing run away even further (Sept. 25, 2015)

Beijing emerges badly from its censure of tycoon (Sept. 24, 2015)

Why Li Ka-shing shouldn’t get distracted by China criticism (Sept. 22, 2015)

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