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  • Dec 22, 2014
  • Updated: 2:21am
Occupy Central
NewsHong Kong

Property tycoon Lee Shau-kee lashes out at Occupy Central

Property billionaire attacks democracy protest as he praises C.Y. Leung and rubbishes idea that business and government work hand in glove

PUBLISHED : Thursday, 04 July, 2013, 12:00am
UPDATED : Thursday, 04 July, 2013, 3:51pm


  • Yes: 40%
  • No: 60%
4 Jul 2013
  • Yes
  • No
Total number of votes recorded: 468

Property tycoon Lee Shau-kee has weighed in to condemn the Occupy Central movement for being "too radical", and warned it could have a negative impact on the city.

The Henderson Land Development chairman made the remarks in a speech at a meeting with the News Executives' Association yesterday, during which he took the rare step of speaking on a range of subjects, from social issues to personal matters.

Lee said the pan-democrat movement, which aims to mobilise 10,000 people to blockade Central and force the government to commit to universal suffrage, could have significant fallout.

"Central is the heart of Hong Kong," Lee said. "It should not be paralysed, or else there could be huge consequences. It could have a negative impact on Hong Kong.

"Hong Kong is a very precious place. People who live here should appreciate what they already have. They should comply with the law and behave themselves," he said.

Lee also advised young people not to take radical action during Occupy Central protests.

The tycoon extended his support to the government by praising chief executive Leung Chun-ying for being "diligent, persistent and hard-working", while dismissing the accusation that there was collusion between the administration and businesspeople.

He said earnings at property companies had fallen as the number of real estate transactions had declined following recent government property market cooling measures, such as higher property taxes and new rules on sales brochures.

"You can see for yourself - how could there be collusion?" he asked.

The tycoon shared with the assembled executives his personal view of success, and spoke of a philanthropic plan to donate HK$1 billion each year to charity if the Hang Sang Index rises to 30,000 points.

"I have learned in recent years that spending money is equally important as earning money in terms of being successful," he said. "Philosophically speaking, I cannot bring my money with me when I die, even though I am rich. While I am called a successful man, I have to spend in an equally successful way."

"My spending concept is to gain the highest reward for the cost, for example, training one million farmers to work on their own so that at least three people in a family gain help. In the end, three million people can benefit."

He also seized the chance to dismiss accusations against his company. He said land for the Grand Promenade residential development in Sai Wan Ho had been obtained through the proper channels, and he went on to deny allegations of market manipulation during the sale of a luxury apartment at 39 Conduit Road.

In a surprise move, Lee, who has three surrogate grandsons from his eldest son, Peter Lee, told Hongkongers to be more open-minded towards surrogate births.

He cited a Mencius saying - "There are three ways to be unfilial; having no sons is the worst" - to stress the importance he attached to having successors as a traditional Chinese value.



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This article is now closed to comments

this disgusting piece of garbage sued a 80 year old woman to get her off land she had been on for 30 years
after they lost THREE LAWSUITS they started to sue her again
special place in h e ll for this vile dog s h i t
Dai Muff
He would, wouldn't he?
$1 bn gift signals new heights in generosity? If the HSI hits 30,000, this guy stands to make at least tens of billions. Obviously, a guy with lots of hugely profitable buildings in Central doesn't want access disturbed.
John Adams
Occupy Central bad .... Sai Wan Ho good .... 39 Conduit Road very good ....?
Does someone have a guilty conscience ?
Shut up, old man.
Shameless really. He will donate HKD 1bn of his estimated HKD 160bn fortune (so 0.6%), but only if the HSI rises by about 50%. If that happens, his personal fortune would probably well exceed HKD 200bn, making the HKD 1bn donation, even if it is every year of his remaining lifespan, really seem like breadcrumbs. A gratuitous gesture, especially since the HSI is not exactly heading for the 30k. And it may not do so again for a very very long time.

And this passes for generosity? What a scrooge. This reminds of his fellow tycoon Mr Li Ka-Shing, who was praised by some of his cronies a couple of months ago for displaying similarly embarrassingly low levels of 'generosity.'

These men should be ashamed of themselves. Having a made a fortune is all fine by me, but now coming out pretending to be a philanthropic and commenting on social problems they are for a large part responsible for themselves, is just disgusting.
If there is a need to assign our city problem to a person, let us refocus. Let the focus be on the property developers. Again, I will evoke our colonial time, that the government then trained the entire society to focus on the property developers. LKS was a role model and proudly called him a superman. Fifteen years past, I don’t think LKS likes to be called a superman anymore. He explained to the public not long ago that being pragmatic is essential to succeed. He and the rest of the property developers and heads of conglomerates choose to be quiet till comments from me and others but they still passively aggressive influencing or running Hong Kong. Hong Kong industrial people don’t need a billion or two HK dollars from any developers. Instead Hong Kong people need to get a life where they currently must slave to trade it for a roof over their heads. Let us focus on the shakers and movers who make what Hong Kong is since the colonial time.
"He cited a Mencius saying - 'There are three ways to be unfilial; having no sons is the worst' - to stress the importance he attached to having successors as a traditional Chinese value."

I have an assignment for Mr Lee. Please compare and contrast with the following passage, then put your money where you mouth is.

"The [Hong Kong Family Planning Association] survey shows that most respondents would like to have two children, but 39 per cent of women ended up having fewer children than they wanted - the biggest gap between actual and desired outcome since 1987. Economic pressures, tough working environments and late marriages were all contributing factors. The economic factor is weighing on parents more heavily than before, with 29.7 per cent of women citing this as a difficulty last year, up from 15.4 per cent five years ago."

From SCMP "For the first time, more one-child families in Hong Kong" May 22, 2013, as found on


SCMP.com Account