Over 480,000 Leave Hong Kong in 3 Years, Li Ka-shing Frenziedly Sells Mainland and HK Assets

Recently, two major events in Hong Kong have captured widespread attention, both locally and internationally. The first event involves the reported sale of a highly symbolic property by Asia's wealthiest man, Li Ka-shing. The second event concerns members of the Hong Kong Parliament, made up of exiled Hong Kongers who are now being pursued by the Hong Kong government in anticipation of the Chinese Communist Party's collapse. These two events are closely connected. Let's start with the first event. At the end of July, media reports revealed that 97-year-old Li Ka-shing, Asia's richest man, is planning to sell his iconic home at 79 Deepwater Bay Road in Hong Kong. He's selling it for 5 billion Hong Kong dollars. Following this, Chinese media outlet NetEase reported that the house, described by Feng Shui Masters as a dragon vein treasure site, was purchased by Li in 1963 as a wedding gift for his wife, Chong Yueming. The property has witnessed Li's rise from a small plastic flower businessman to a billionaire. Li had previously vowed that the Deepwater Bay home would never be sold. However, it is now being sold for 23% below market value. Hong Kong media has interpreted this as the ultimate sign of severing family ties. Meanwhile, Taiwan's New Talk News reported that Li's family, considered a barometer for Hong Kong's real estate market, has been selling off around 400 residential units in the Guangdong, Hong Kong, Macau, Greater Bay Area through its subsidiaries, Chong Kong Property and Hussichen Wampoa. The units were priced as low as 400,000 RMB, a move that has shocked the industry and prompted a buying frenzy, with large numbers of Hong Kongers traveling north to purchase properties. These properties are located in Huizhou, Zhongshan, Guangzhou and Dongguan. Huizhou's Longpo Garden saw the largest sales volume, with approximately 300 units sold in one One-bedroom units were priced at only around 440,000 Hong Kong dollars, a dramatic drop from previous prices. High-end properties like Dongguan's Haiyi Grand Mansion have also experienced significant price adjustments since 2023. The sales strategy of old-property-sold-as-new aligns with Li Ka-shing's long-term approach. For example, the Dongguan Haiyi Mansion Villa was built in 1999, and some units were held for years before entering the sales phase. The sales push is aimed at Hong Kong buyers. CK Asset Holdings stated that since mid-2023, demand for Greater Bay Area homes has surged among Hong Kongers. In the case of Huizhou's Longpo Garden, nearly 600 units have been sold, with the vast majority purchased by Hong Kong residents. People were even brought in to do house tours via chartered bus. Media commentators believe that the affordable prices are the primary reason for the surge in buying activity. While one-bedroom units in Hong Kong can cost upwards of 4 to 5 million Hong Kong dollars, in the Greater Bay Area, they're available for just tens of thousands of RMB. With lower living costs and a slower pace of life, these properties are particularly appealing to middle-class families, retirees, and young people. Some analysts have suggested that these properties might not be purchased by long-term Hong Kong residents, but by newcomers from China who can't afford property in Hong Kong. This indicates that Li Ka-shing's business acumen is still sharp, and he's capitalizing on emerging opportunities. Regarding Li Ka-shing's decision to sell his old home and his sale of Greater Bay Area properties at fire sale prices, senior analyst Mr. Zi shared his thoughts. He explained that to understand the significance of Li's old home, it's essential to look at the property's history, as it holds far more value for the Li family than its surface worth. The iconic mansion is well-known to Hong Kongers. Li Ka-shing purchased the property in 1963 for 630,000 Hong Kong dollars as a wedding gift for his wife, Chong Yuen-ming. Like almost all of Hong Kong's super-wealthy, Li is a firm believer in feng shui. He chose 79 Deepwater Bay Road based on the best recommendations from a feng shui master. The house, nestled against the mountains and facing the sea, is described as a treasure trove, drawing wealth from all directions and supporting the prosperity of its owner. Deepwater Bay is home to many of Hong Kong's wealthiest individuals, including shipping magnate Sir Yung Kong Pao, gambling tycoon Stanley Ho, and sugar king Robert Kwok, who all had homes in the area. Li's mansion is in an even more prime location. At the time, Li Ka-shing was not yet Hong Kong's richest man, though he was still very wealthy. After moving into this mansion, his business boomed, and later he had two sons. After decades of hard work, Li became Hong Kong's, and later, Asia's, richest person. However, in 1996, an event occurred that would change Li Ka-shing's life forever. His eldest son, Li Tsar Khoi, or Victor Li, was kidnapped by Hong Kong's infamous gangster, Cheng Tse-kung, and held for ransom. Cheng was operating alone at the time. He strapped explosives to Li's body and demanded a ransom of 2 billion Hong Kong dollars. Li Ka-shing immediately agreed, but said, I only have 1 billion Hong Kong dollars in cash, and I can go to the bank to get the rest. Media reports suggest that Li's calmness even surprised Cheng, who asked him, Why are you so calm? Li replied, Because I made a mistake. You are so well-known in Hong Kong, yet we had no precautions. For example, I went to play basketball, driving myself to the Five Territories at 5am, and several cars could surround me on the road without me realizing it. I need to seriously reconsider my approach to this. In the end, Cheng Tse-kung loaded over 1 billion Hong Kong dollars into a truck and swiftly released Victor Li. Two years later, Cheng was caught in mainland China and was swiftly executed. After the kidnapping, Li Ka-shing significantly strengthened the security at his mansion. As Victor Li's children were born, Li Ka-shing spent 200 million Hong Kong dollars in 2006 to rebuild the mansion, a project that took 7 years to complete. The rebuilt mansion is now a fortress. It features multiple hidden cameras and top-tier bulletproof glass on all the windows. Each floor has at least one bathroom or walk-in closet designed as a safe room, complete with steel doors, and the walls are reinforced to withstand bullets. In the event of an attack, the safe rooms can offer protection for several hours. The rooftop is secured with no stairs to access other levels, and electric fencing surrounds the property, making it one of the most secure homes in Hong Kong. The kidnapping of his son changed Li Ka-shing's view on security. He knew that while Hong Kong used to see occasional crimes, no one would have dared to target a tycoon of his stature. This event made him realize that Hong Kong was no longer safe. Senior analyst Mr. Zi explained that Cheng Tse-kung was not part of Hong Kong's local triads, but had strong ties to the Big Circle Gang, a group involved in many major crimes, which Cheng exploited with their help. The Big Circle Gang, which emerged in Hong Kong and Macau in the 1970s, was made up of mainland Chinese gangsters. The group mainly consisted of members from Hunan, Hubei, Guangdong, and Fujian provinces. Many of the members were former Red Guards. After Mao Zedong disbanded the Red Guards in 1967, these individuals sought refuge in Hong Kong, bringing with them military training and criminal skills. Unlike more established Hong Kong triads like 14K and Sun Yiyong, the Big Circle Gang lacked traditional roots and was known for its violent methods. While homicides were rare among Hong Kong's gangs, many of the city's notorious gangland murders were attributed to Big Circle Gang members. The group became a primary target for law enforcement. Because of their backgrounds and language barriers, the members of the Big Circle Gang struggled to fit into mainstream Hong Kong society. Over time, the gang came under the direct control of the CCP. Chun Sikong, working with the Big Circle Gang, managed to escape capture multiple times while enjoying the CCP's support and free access to mainland China. There were rumors that after kidnapping Victor Li and the Kwok family and securing billions, Chung's subordinates suggested kidnapping the wealthy Henry Fok. Chung swiftly reprimanded them, saying, you can kidnap anyone, but you cannot touch Henry Fok, and you certainly cannot kidnap his family. He knew that Henry Fok was a CCP agent and untouchable. Li Ka-shing was well aware of these shadowy dealings. He understood that after 1997, when Hong Kong was returned to CCP rule, Hong Kong's legal system would cease to function as it once did. In 2011, anticipating the shift, Li began strategically moving his wealth overseas to ensure his family's future security. By 2013, Li Ka-shing began accelerating the sale of his key assets in mainland China and Hong Kong, sparking alarm and frustration within the CCP. As a result, CCP-run media published a lengthy article titled, Don't Let Li Ka-shing Get Away. But he didn't slow down. He continued selling major real estate projects in Beijing and Shanghai and also divested from Hong Kong's ports, utilities and some of the city's most profitable malls and office buildings. He redirected the proceeds into investments in the UK, Canada and Singapore. The increasing erosion of Hong Kong's legal system under the CCP led to the Umbrella Movement in 2014 and the Anti-Extradition Law Movement in 2019. The CCP ultimately tore off its mask, pushing through the controversial Hong Kong National Security Law and Article 23 legislation, effectively tearing up the Sino-British Joint Declaration and the One Country, Two Systems framework. In 2022, Li Ka-shing sold most of his shares in Citigroup for HK$21 billion. In 2023, he followed that by selling his shares in Hong Kong Electric for HK$20 billion. The breaking point came when the CCP's intervention in the Panama Canal port made its true intentions clear. When President Trump took office again, he launched a full-scale push to regain control over the strategic Panama Canal port. For long-term considerations, Li Ka-shing chose to side with the US, selling the port to an American company. After all, it was a business decision, and he had every right to make it. However, the CCP, eager to counter the US, forced Li to cancel the deal, showing little regard for diplomacy. Yet, the outcome was inevitable. The CCP's influence in Panama couldn't match the US. In the end, Li would lose control over the port's operations, regardless of the sale. The US government made it clear that it would not allow any Chinese-backed companies to run the Panama port. Throughout this process, the CCP employed various tactics to achieve its goals, including publicly humiliating the Li family and using covert methods of pressure and threats. The Panama port incident marked the final rupture in the relationship between Li Ka-shing and the CCP. Regarding the rumors of Li Ka-shing selling his old home, on August 4th, Li Ka-shing's son, Victor Li, chairman of CK Asset Holdings, responded, We have never intended to sell the property at 79 Deepwater Bay Road. Reports and posts on social media regarding the sale are entirely fabricated and have no factual basis. Mr. Li noted that Victor Li's public denial of selling the old mansion is part of the Li family's strategic response. Since Li Ka-shing himself has not commented, this information is likely grounded in reality, and the reported price of HK$5 billion closely matches a potential transaction price. Despite being 97 years old, Li Ka-shing remains sharp and mentally agile. He is still the true head of the Li family. The significance of 79 Deepwater Bay Road to the family is more than just a property. It's about choosing the family's business and survival environment. For Li Ka-shing, HK$5 billion is a small sum. He doesn't need the money. His decision sends a clear message that he intends to sever ties with both Hong Kong and the CCP. Mr. Wu Wenxing, chairman of the Hong Kong Election Preparatory Committee, remarked, Li Ka-shing was the first major businessman to invest in mainland China in the early 1980s. He was the first to make a large-scale investment in China. And after that, many entrepreneurs around the world followed his lead. Now he's the first to pull out of China, and I believe that global entrepreneurs will follow him. As of June 2025, statistics show that over 480,000 Hong Kongers have left the city in just three years. Some of Hong Kong's elite can't stand to see the city destroyed by the CCP, so they have established an overseas Hong Kong parliament. However, the situation has taken an unexpected turn, which brings us to the second issue. Hong Kong authorities recently announced that they had issued bounty warrants for 19 overseas individuals, including organizers and elected members of the Hong Kong parliament. This move has sparked strong condemnation from the US, UK, and other countries. Several of the wanted democracy advocates said that the CCP and the Hong Kong government's cross-border law enforcement actions challenge international law and the sovereignty of nations. The bounty warrants have ironically increased international awareness of the Hong Kong parliament and underscored the global resonance of democratic values. Among those targeted by the warrants are nine organizers of the Hong Kong parliament, including Yuan Gongyi, Ho Leung-mo, Ho Ka-chi, and Tsai Ming-da, as well as 10 elected members who took the oath of office. The first election of the Hong Kong parliament took place in June this year, with 15 candidates receiving 15,702 valid votes globally. The first batch of elected members held an online swearing-in ceremony on July 21, only to have Hong Kong authorities issue the bounty warrants four days later. This action was approved in advance by the CCP's liaison office in Hong Kong. One of the organizers of the Hong Kong parliament, Yuan Gongyi, said on July 27, for groups that need a deeper understanding of democracy, creating a representative parliament is key to achieving democratic governance, through elected representatives who solve problems in parliament, which is a core mechanism that cannot be replaced by any government-appointed body. Using Taiwan's democratic practices as an example, he emphasized that despite challenges, the rights of people to express their will through elections and referendums reflects the core values of democracy. He added that the Hong Kong parliament would follow the path of democratic countries around the world, with its primary task being the creation of a constitution as a fundamental basis of future governance. Dr. Feng Chongyi, Associate Professor at the University of Technology, Sydney, and a member of the Election Committee, told reporters that the core principle of the Hong Kong parliament is that sovereignty belongs to the people. The goal is to address the legitimacy crisis posed by the current Hong Kong government, which acts as the CCP's proxy. Politically, the Hong Kong parliament serves as an important platform for Hong Kong-suppressed and exiled pro-democracy figures. The democratic election process of the Hong Kong government triggered a cross-border crackdown by the CCP and the Hong Kong government. Yuan Gongyi stated that the Hong Kong government's pursuit of these members has actually created a free publicity effect. Every time a bounty warrant is issued, it increases global attention of the Hong Kong parliament, bringing in more sympathy and support. The authorities' attempts to suppress dissent through heavy-handed tactics have only prompted the international community to learn more about Hong Kong's true situation. Dr. Feng Chongyi also noted that this cross-border jurisdiction over citizens of other countries infringes on basic human rights and poses a severe challenge to international law and national sovereignty. U.S. Secretary of State Marco Rubio issued a statement making it clear that the U.S. will not tolerate the Hong Kong government using the national security law to suppress or intimidate Americans. He pointed out that this form of extraterrestrial transnational suppression of Hong Kongers goes against Beijing's promise of Hong Kong's autonomy made during the 1997 handover. Canadian Foreign Minister Anita Anand and the Canadian Minister of Public Safety issued a joint statement condemning the bounty warrants, saying that they are absolutely intolerable. The statement pointed out that the Canadian government had found that the Hong Kong government's reward information was being spread through online networks targeting the Chinese-speaking community. It warned that such actions threatened Canadian sovereignty and public safety. UK Foreign Secretary David Lammy and Home Secretary Yvette Cooper also criticized the Hong Kong government's actions as another example of transnational repression, damaging Hong Kong's international reputation. Australia's Foreign Minister Penny Wong and opposition leaders expressed their opposition on social media, emphasizing the importance of freedom of speech and assembly in democratic systems. Analysts have pointed out that a global bounty warrant requires participating countries to activate extradition mechanisms, but in Western democracies, extradition only applies to criminal offenses. Political prisoners are never extradited. To extradite members of a democratically elected Hong Kong parliament has become an international joke. The members of the Hong Kong parliament are located in countries such as the U.S., the U.K., and Canada. The Hong Kong government has requested these countries to extradite individuals designated as political prisoners by the CCP, including those who are not Hong Kong residents, such as Dr. Feng Chongyi, who works as associate professor at the University of Technology in Sydney. The UK government has announced that it will remove Hong Kong from its extradition treaty, effectively signaling a shift in its stance on Hong Kong's legal system. The Hong Kong government knows that this action has no chance of success, but the current Hong Kong government is essentially a CCP-backed regime, implementing CCP-style terror tactics. Eventually, the authorities will use violence and create fear to teach Hong Kongers a lesson in terror. This also shows that the current Hong Kong government has completely devolved into a CCP-run local government. The members of the Hong Kong parliament, who established this government in exile, are preparing for the potential collapse of the CCP regime, ready to quickly take control of Hong Kong and restore order. They're also motivated by a desire to save Hong Kong and calm its citizens. They see that the city's elite class is rapidly fleeing, and if they don't act soon, Hong Kong will become just another mainland Chinese city. Li Ka-shing once told the kidnapper, Tung Tzu-kung, a telling line. He said that the kidnapping of his son was his fault. He had mistakenly believed that it was possible to live in Hong Kong without any precautions, and he needed to reconsider his approach. Looking back now, it seems that Li Ka-shing had already foreseen what would happen when Hong Kong fell under CCP control. Perhaps now, he is really reconsidering his approach.