Taiwan says Hong Kong’s Tycoon assets freeze warnings to global investors

Taipei — Hong Kong’s decision to freeze assets belonging to imprisoned media mogul Jimmy Lai on Saturday to the international community that doing business in a Chinese-controlled city is becoming increasingly dangerous Warned that it was a sign.

The asset freeze announced on Friday includes all shares of his company, Next Digital. This is the first time a listed company has been subject to the National Security Act of a financial hub.

Shortly before the announcement, Rye’s popular Apple Daily Taiwan division announced that it would stop issuing print editions, blaming Hong Kong’s more difficult business situation related to declining advertising revenue and politics.

In a statement sent to Reuters, Taiwan’s Mainland Affairs Council said the foreclosure of assets highlighted the threat posed by Hong Kong’s National Security Act to the property of the people of the city.

Jimmy Lai
Hong Kong Democratic Media Mogul Jimmy Lai (C) is indicted in Hong Kong, China on December 12, 2020 under the controversial new National Security Act in the region. When you head to, you will be taken to a police van. (Park via Peter Getty Images / AFP)

“It’s the same as announcing to the international community that Hong Kong’s business risks are rising,” the council added.

“We also call on stakeholders to stop oppressing Hong Kong Democrats, or they will move away from popular sentiment.”

Hong Kong’s former British colony has been shaken in recent years by protests against a Beijing-backed government, and last year the Chinese Communist Party government imposed a strict new national security law on Hong Kong.

The Chinese administration considers Taiwan part of its territory and threatens war to bring the island into its territory. Jeju is a virtually independent country with democratically elected governments, troops, constitutions, and currencies. The Taiwanese government was strongly critical of the crackdown in Hong Kong against Beijing’s anger.

Lai was sentenced to 14 months in prison for attending an unauthorized rally during the 2019 anti-democratization movement.

Ben Blanchard

Epoch Times staff contributed to this report