Connecting Regions of Asia.

Luxury Homes Tie China’s Elite To Hong Kong

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Li Qianxin, the elder daughter of the Chinese Communist Party’s No. 3 leader, has quietly crafted a life in Hong Kong among the city’s financial elite.
For years, she has mingled with senior executives of state companies and represented Hong Kong in Chinese political advisory groups. 
She also owns expensive real estate. She and other relatives of top Communist officials are embedded in the fabric of Hong Kong’s economy.
As the party takes a stronger hand in Hong Kong, the leadership in Beijing has a vested interest in the city’s fate: Ms. Li’s father oversaw the passage of the new national security law there.
 The law could protect the families of party leaders by stopping protests that damage the economy, or it could hurt them by driving down business confidence in the territory. 
It could also expose them to sanctions.
NYT reporters found that three top leaders of China’s Communist Party have relatives who own assets in Hong Kong, including more than $51 million in luxury real estate. Many of them keep low profiles. Ms. Li declined requests for comment from The New York Times.
A raid on the tabloid owned by Jimmy Lai propelled it into the international spotlight.
 It also set off waves of support from pro-Democracy residents.Mr. Lai was released on bail on Wednesday, while the paper, which often breaks some of the biggest news in Hong Kong, has itself become one of the city’s biggest stories.
 Reporters, going to great lengths to hide source information, detailed the arrest in their coverage and analyzed the legal implications of the crackdown.
Our reporters looked at life in the newsroom in the days after the police raid, which has threatened to shift the territory’s media landscape.

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