Assets of jailed media tycoon Jimmy Lai frozen under Hong Kong’s national security law

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  • South China Morning Post published this video item, entitled “Assets of jailed media tycoon Jimmy Lai frozen under Hong Kong’s national security law” – below is their description.

    Hong Kong authorities have frozen nearly HK$500 million (US$64 million) of jailed media tycoon Jimmy Lai Chee-ying’s assets in the first such use of new powers granted under the city’s national security law.

    The government issued a statement on May 14, 2021, announcing that the secretary for security had ordered Lai’s shares in his media company, Next Digital, to be frozen, along with assets in the local bank accounts of three other firms he owned.

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    In This Story: Hong Kong

    Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.

    Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.

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