THE execution-style killing of a businessman near Mongkok railway station has been linked to a business dispute over China property.
Hui Hau-yee, 34, who emigrated to the territory from Shantou more than 10 years ago, was shot four times by two gunmen on Monday night.
Hong Kong police are likely to ask China for assistance in connection with the contract killing.
Hui had a property business in China and his wife told police he had gone to Shenzhen on Saturday in an effort to resolve a dispute with associates in Chaozhou.
When Hui returned on Monday night, the taxi carrying him and a friend, Cheng Kwong-nan, was intercepted by the gunmen in a stolen car in Luen Wan Road.
Hui fled from the taxi despite being hit, but was chased by the killers and shot again.
The gunmen then hijacked a car after forcing a family of four out.
Police later found eight 7.62 mm calibre spent cartridges and two live rounds at the scene.
It was Hong Kong's fifth contract killing since 1992.