Panama ports deal: eyebrows raised over Hong Kong's Richard Li in Beijing, observers say
The appearance of the younger son of Hong Kong billionaire Li Ka-shing at a high-profile summit in Beijing on the weekend caused a stir in business circles given how the central government had signalled its displeasure over the sale of Panama Canal ports controlled by his family's conglomerate, observers have said.
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Richard Li Tzar-kai was among 93 people who appeared in a group photo with Chinese Premier Li Qiang at the China Development Forum on Sunday in Beijing. His father and his elder brother, Victor Li Tzar-kuoi, were absent.
Standing in the last row, the younger brother was sporting his usual round, black-framed glasses.
He attended in his capacity as founder of Pacific Century Group, a Hong Kong-based private investment conglomerate with interests in technology, media, financial services, infrastructure and property.
Lau Siu-kai, a consultant to the semi-official Chinese Association of Hong Kong and Macau Studies think tank, said on Tuesday that Beijing recognised that the brothers had been involved in separate business ventures for a long time.
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'Richard Li is not involved in the sale of piers by Hutchison and he is a tycoon in his own right,' Lau said. 'Besides, Beijing has not issued any official statement against Hutchison or Li Ka-shing.'
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