Tycoons join HK$10b welfare fund

Tycoon Li Ka-shing (pictured) led business leaders and groups in supporting the HK$10 billion Community Care Fund for the poor. He pledged HK$500 million to the fund, announced by Chief Executive Donald Tsang Yam-kuen in his policy address on Wednesday to support the needy in areas not covered by the welfare system. Henderson Land chairman Lee Shau-kee and the Kwok Foundation of Sun Hung Kai Properties agreed to contribute HK$400 million each.