The reversal helps the critical homeowning middle class, but it also pleases the big developers, who have been calling precisely for this sort of action. No way, says Vincent Lo Hong-sui, chairman of construction company Shui On Holdings and one of the tycoon delegates who met with Jiang last week. People read too much into these things. Tung's backing down on his housing policy and his re-election has no relationship at all. Beijing is concerned about the polls but it couldn't care less if it loses points.
Stability is paramount over everything else.
And in Hong Kong, Beijing's voice still speaks loudest. All Rights Reserved. Terms under which this service is provided to you. Read our privacy guidelines .