Xi Unhappy With Lame-duck Lam, Says Analyst
"); jQuery("#212 h3").html("
"); });
2019-06-24 HKT 09:50
A China analyst says President Xi Jinping is obviously "tremendously unhappy" with the performance of the Chief Executive Carrie Lam, following weeks of protests sparked by her efforts to amend extradition laws.
Protesters have dropped demands for Lam to resign, saying it's more important she withdraw her extradition bill and set up an independent inquiry into police action during violent clashes outside Legco almost two weeks ago.
Professor Willy Lam says Beijing is unlikely to remove Lam, but the power vacuum created by her ineffectual government could encourage more mainland interference.
"I think she has has become a lame duck, and the lame duck administration could go on even for the rest of her three-year term," he said.
"But this is very bad for Hong Kong, because Hong Kong at this stage requires a very dynamic leader to pull us through the political crisis and also to face immense economic and social challenges.
"This power vacuum is particularly bad because the Communist Party of Hong Kong, which is represented by the central liaison office, may take advantage of the power vacuum to step in to assume more power and initiative."
Hong Kong FPS To Enable Small Cross-Border Payments With Mainland China By Mid-2025
The Hong Kong Monetary Authority (HKMA) has announced plans to connect the Hong Kong FPS with mainland China’s Intern... Read more
Asian Financial Forum Kicks Off In Hong Kong With Over 3,600 Attendees Expected
The 18th Asian Financial Forum (AFF) kicked off yesterday (13 January) at the Hong Kong Convention and Exhibition Centr... Read more
HashKey Group Secures In-Principle Approval For VASP License In Dubai
Hong Kong-based HashKey Group announced that its subsidiary, HashKey MENA FZE, has received In-Principle Approval (... Read more
IFAST Expands Offerings With Custodian Role For Private OFCs In Hong Kong
Fintech solutions provider iFAST HK can now act as a custodian for private Open-ended Fund Companies (OFCs). The OFC re... Read more
Hong Kongs Digital Banks Rethink Physical Branches To Improve Customer Experience
Some Hong Kong digital banks are rethinking their strategies and considering physical branches in Hong Kong, according ... Read more
WeLab Bank Hits Breakeven Four Years After Launch
WeLab Bank announced that it achieved breakeven in December 2024, just over four years after its launch. This update fo... Read more