Li Ka-shing moves to the Cayman islands

[Rob2020]

Now that Mr Li (aka Superman) has decided to move his empire to the Cayman Islands (obviously for weather related reasons), what does this signal for HK?

There isn't going to be much left in terms of big corporates to tax at this rate, gloom and doom?

[shri]

They're still taxed for whatever businesses are run locally.

I don't think any taxes will be lost... (they don't need to make such public moves for move numbers around).

[flameproof]

Is that news?

I remember that after Tiananmen in 1989 there was an ad in the news paper with all the big players in HK with a 'We stay in HK' message. Some people then pointed out out that none of that HK old hands had the headquarter registered in HK.

I don't think any taxes will be lost...

Right, it's the seafood that attracts them.

[greenmark]

I foresee fewer hurricanes in the Caribbean

[Cho-man]

I foresee fewer hurricanes in the Caribbean

Would that mean more typhoons in HK now?

[shri]

Let me fix that for you ...

The "big tiger", a common businessman formerly called superman.

The Global Times, an influential sister newspaper of the People's Daily, the most authoritative mouthpiece of the Communist Party, ran an editorial last week taking a clear stance on Li, saying he is no longer an ideal role model for Chinese people. Instead, we should praise and learn more from businessmen from the younger generation like tech tycoons Jack Ma Yun of Alibaba and Lei Jun of Xiaomi."

In comparison to the huge size of the Chinese economy, Li Ka-shing's total investment in China is now like a drop in a big ocean," the Global Times said in its editorial.

A signed commentary by a mainland columnist who described Li as a "big tiger in the property market" was published on Sina.com, China's top portal, and went viral on mainland social media.

Those who follow Chinese politics will know "big tiger" is a term that became popular since Xi Jinping took power and began a nationwide anti-corruption drive against top-level corrupt officials and businessmen.

Those recently labelled "big tigers" include former security tsar Zhou Yongkang and Ling Jihua, a former top aide of ex-president Hu Jintao.

From 'superman' to 'big tiger', Li Ka-shing loses favour with Beijing | South China Morning Post