Liaison Office Indirectly Owns Most Bookshops

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2018-05-28 HKT 22:36

Share this story

facebook

  • Lee Cho-jat denied there was any political agenda involved. File photo: RTHK

    Lee Cho-jat denied there was any political agenda involved. File photo: RTHK

RTHK has confirmed that Beijing's Liaison Office in Hong Kong has indirect ownership of a local publishing conglomerate that runs more than half of the bookshops in the city.

An investigation by the station's current affairs programme "Hong Kong Connection" found the Liaison Office has control of Sino United Publishing Holdings Limited which has 53 branches and is the owner of more than 30 publishers in Hong Kong.

It said the major shareholder of the publishing conglomerate is a local company called "Xin Wenhua Hong Kong Development Company", which is in turn owned by a Guangzhou firm.

The Guangzhou company has only one shareholder -- Beijing's Liaison Office in Hong Kong.

Documents of the Guangzhou firm also revealed that its scope of business involves "managing news and cultural businesses in the SAR".

Lee Cho-jat, who was the first chairman of Sino, said the group is "a national asset" and the Liaison Office is obliged by Beijing to coordinate "different units." But he denied there was any political agenda involved.

Several officials from the Liaison Office have refused to respond over the matter. The Constitutional and Mainland Affairs Bureau said it has "no relevant information" to provide.

RECENT NEWS

HSBC, StanChart, Alibaba Cloud Among First Cohort Of HKMAs Gen AI Sandbox

The Hong Kong Monetary Authority (HKMA) and Cyberport have announced the first cohort of its Generative Artificial Inte... Read more

QuickFest 2025 To Focus On AI, Automation, And The Future Of Accounting

QuickFest, the virtual conference tailored for accounting professionals, bookkeepers, and consultants, will return on 1... Read more

5 Stories That Shaped Hong Kongs Fintech Scene In 2024

In 2024, Hong Kong further cemented its position as a leading fintech hub in the world, with the number of fintech comp... Read more

Top 11 Fintech Events In Hong Kong, Japan And Korea In 2025

East Asian countries, especially Hong Kong, China and South Korea, have become global hotspots for fintech innovation, ... Read more

Hong Kong SFC Grants Four VATP Licences, Boosting Virtual Asset Growth

The Securities and Futures Commission (SFC) announced today that it has granted Hong Kong VATP licences to four virtual... Read more

ZA Bank Chief Exec Ronald Iu Reportedly Stepping Down, May Join PAObank

Chief Executive of Hong Kong’s ZA Bank, Ronald Iu, is reportedly planning to step down early next year, according to ... Read more