Liberals won't fold if developers halt funds, says James Tien

The Liberal Party can afford to continue its services and electioneering in the districts even if property developers stop donating, former party chairman James Tien Pei-chun says.

He was speaking after a leading developer said a group of major donors would discuss whether to continue funding the party following its crushing defeat in the Legislative Council election. Liberal Party sources said donations by property developers accounted for a significant proportion of the pro-business party's operating costs of more than HK$10 million a year.

Asked to comment on speculation that property developers would stop funding the party, Real Estate Developers Association president Stanley Ho Hung-sun said no decision had been made.

'I have never said we won't support the Liberal Party. We will have a meeting to look into the issue in great detail and make a decision afterwards,' he said, adding that deliberations would take at least a month.

Mr Tien was asked whether the Liberals could afford to lose the financial backing of developers. The former chairman, who was the main fund-raiser for the party before stepping down to assume responsibility for his own and the party's election defeat, said he hoped the funding would continue.

'I hope our donors will not stop supporting the Liberal Party just because we have seen an election defeat, so that we can continue our district work and enable our ongoing participation in direct elections.