Li Ka-shing backs second term for Tung

Property tycoon Li Ka-shing yesterday said he supported the re-election of Tung Chee-hwa 'absolutely' after a ceremony at which the Chief Executive awarded him the SAR's highest honour, the Grand Bauhinia Medal.

The 73-year-old Mr Li, chairman of the property giant Cheung Kong (Holdings), was one of three to receive the medal, the others being veteran unionist and 1967 riots leader Yeung Kwong and prominent doctor Sir Harry Fang Sin-yang.

Speaking after the ceremony at Government House, Mr Li said Mr Tung was not to blame for many of Hong Kong's problems. Asked if he backed Mr Tung serving a second term, he said: 'I absolutely support him. He does all his best for the good of Hong Kong with all his heart. Many unhappy things happening today are the result of the past.

'The bubble economy before 1997 was not his fault, many people are wrong to say the Government has not helped them.'

It was the most public show of support for Mr Tung's re-election by Mr Li, who has been critical of the Government's housing policies.

Mr Tung last week hinted he might seek re-election amid public criticism of his Policy Address, delivered on Wednesday.