Tycoons turn consultants for city’s sole CE nominee John Lee

Hong Kong tycoons including Li Ka-shing and Lee Shau-Kee are joining China-backed John Lee Ka-chiu’s campaign for the city’s top job as consultants. 

The real estate billionaires are among the 58-person consultant team that Lee announced on Tuesday night on a Facebook page.

Sun Hung Kai Properties Ltd.’s Raymond Kwok Ping-luen, New World Development Co.’s Henry Cheng Kar-shun, Sino Land Co.’s Robert Ng Chee-siong and Bank of East Asia Ltd.’s David LI Kwok-po are also on the team.

The Hong Kong government confirmed earlier this week that former chief secretary Lee was the only candidate nominated for chief executive, clearing the way for him to take power following an uncontested election next month. 

The 64-year-old received 786 valid nominations from the roughly 1,500-member Election Committee that selects the city’s leader. 

It was understood that China’s Liaison Office previously told local elites that Lee had the blessing of President Xi Jinping’s government to become chief executive.

During his campaign, Lee indicated that housing problems would be among his top priorities. 

Hong Kong’s property market, which is the world’s least affordable, is seen as the source of grievances from residents.