Shops robbed by gang wielding AK-47 rifles

The revelation of Yip Kai-foon's identity came as police were preparing to renew the $1 million reward offered for Hong Kong's most wanted man.

Yip, 35, is accused by police of involvement in at least four robberies in which gangs armed with AK-47s fired scores of shots at police.

He was arrested on Monday after a shooting in Western.

On June 9, 1991, six robbers hit five adjacent shops in Mut Wah Street, Kwun Tong, netting gold and jewellery worth $5.7 million.

The gang, armed with AK-47s and pistols, fired 54 shots at police while making their getaway.

Less than a year later on March 10, 1992, eight men armed with pistols fired 65 shots at police and pedestrians as they escaped with $3 million worth of jewellery from two shops.