Hong Kong election success for pro-democracy camp gives Beijing a headache when dealing with ‘kingmaker’ tycoons
- Elections have changed the electoral maths on the committee that selects the city’s chief executive, giving increased importance to votes of the business elite
- Central government has accused property developers of fuelling unrest by ‘hoarding land’ but now must decide how to ensure they back their preferred candidate
Beijing will need to handle its relationship with Hong Kong’s tycoons more carefully after the landslide election victory by the opposition camp made them the accidental “kingmakers” in the choice of the next leader, analysts say.
The pro-democracy camp won 392 out of 452 seats in Sunday’s vote, taking control of 17 out of 18 district councils.
Although councillors’ powers are limited, the victory will give the bloc a bigger say in the selection process for the chief executive by handing them control of 117 seats on the 1,200-member committee that chooses the chief executive.
This shift in the balance of power will mean that Beijing will be more reliant on the major property developers and their business associates – at a time when Beijing has been trying to wean itself away from its over-reliance on the city’s tycoons.
“The impact on the chief executive election is very concerning,” Song SiO-chong, a professor at the Centre for Basic Laws of Hong Kong and Macau at Shenzhen University, said.
“The business sector’s take will become very important. Some business heavyweights have the ability to swing up to 100 votes from the financial and business sector, meaning their votes will be key to the election. When the time comes, Beijing will need to do a lot of coordination work,” Song said.