Chinese state media continues tirade against Hong Kong tycoon Li Ka-shing in People’s Daily commentary

Chinese state media has continued its tirade against Hong Kong tycoon Li Ka-shing over his offloading of assets worth billions on the mainland.

Communist Party mouthpiece People’s Daily urged readers to “build a better country to make his departure today become his regret tomorrow”.

In an article published on its WeChat social media account on Sunday night, the newspaper attempted to play down the impact of Li’s sell-off of mainland assets but admitted it could be seen as a “landmark event” that might have some negative impact.

But it added: “China accounts for more than 12 per cent of the global economy … Can the withdrawal of a single businessman affect the fundamentals?

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“We won’t need to worry about investors not coming after Li’s departure as long as China deepens its reforms … and keeps the market lively,” the commentary piece said.