Property tycoon Gordon Wu Ying-sheung lamented yesterday that Hong Kong's mounting political arguments were discouraging investment while the government's property-cooling measures were hindering the development of business.
"It seems Hong Kong is no longer progressing on livelihood issues, and arguments occur whenever the government wants to do something. If there are so many opposition voices, how can you govern effectively?" Wu said.
"Because the investment environment has changed, we cannot [invest] so boldly; we can only 'cross the river by feeling the stones' and keep watching the environment."
Wu, vice-president of the Real Estate Developers Association, was speaking on the sidelines of Hopewell's shareholder meeting.
His remarks follow reports earlier this month that Li, chairman of Cheung Kong (Holdings) and Hutchison Whampoa, is expected to raise more than HK$100 billion by spinning off Hongkong Electric and Watsons to fund the purchase of telecommunications companies in Europe.
Wu said Hong Kong should also be aware of competition from Shanghai, which launched a free-trade zone last month.