Hong Kong’s top property tycoons will see their political clout further diluted by the latest reported change to limit the number of seats per family in the city’s election committee.
The families behind Hong Kong’s largest property conglomerates were informed that they would each be limited to two members on the election committee, according to an «SCMP» report citing unnamed sources.
No details were given about who or what entity delivered the order.
Election Committee
The election committee was previously only tasked with choosing the city’s chief executive but has recently been revamped as part of broader plans by Beijing with a larger membership (300 to 1,500) and mandate which includes nomination of lawmakers.
More than 75 percent of the seats are uncontested, according to the report, with 603 of those lawmakers expected to be younger members of tycoon families.
«The big families will still have a say in the committee with their representatives,» said an unnamed heavyweight businessman in the report. «But Beijing’s blunt message to us is: ‘You can no longer be a kingmaker’.»
