A huge thanks to
@heldavidson for quoting me. Just to elaborate on my two quotes in the
@guardian as noted below by
@SupportJimmyLai:
“[Jimmy Lai’s publications] kept Hong Kong honest in many ways … We kind of forget that Jimmy Lai and his media businesses played an important role in Hong Kong as an international financial centre because it kept the free flow of information going about Hong Kong’s corporate underbelly.”
- Politics aside, because Lai was very much outside of HK’s business establishment, it meant that his publications had a much freer hand than most other publications to undertake fearless investigative journalism. This led to Next Magazine and Apple Daily having exposed many HK and China corporate scandals.
- Notwithstanding the at times unnecessarily salacious ways in which some of these scandals were broken by Next and Apple, their work was so valued by the financial sector in HK that they would often look to Next and Apple reports as preliminary first steps in their IPO or mergers and acquisitions due diligence.
- Jimmy Lai’s publications were standard bearers (in substance, even if not always in style) of HK as an international financial centre, insofar as it reflected a deal-making hub in which investors and financiers have access to information with little fetter.
- The downfall of Jimmy Lai and his publications coincided with a time when, as has been variously reported, national security laws have made equities analysts reluctant to state their views on Chinese companies frankly, and prospectus disclosure rules plus companies registry search rules were changed with a new to more opacity about HK and Chinese companies.
“The trajectory of [Jimmy Lai’s] life reflects the history of Hong Kong itself.”
- Jimmy Lai’s rise as a HK businessman reflected HK’s economic rise. His initial wealth came from the garments manufacturing and retail sector.
- His distrust of the CCP reflected that of HKers generally, and was solidified by the Tiananmen Square Massacre, just like it was for many HKers.
- His founding of Next Magazine and Apple Daily reflected a flourishing HK media scene in the 1990s. Ironically for someone who was strongly anti-CCP, the CCP’s antics was once very profitable for him, as his entrepreneurial instincts propelled him to plug a HK media market gap in which being anti-CCP in print was no longer the preserve of the cobwebbed “we need to save China!” intellectual types.
- However, as the CCP and its allies started closing in, advertisements in Next and Apple gradually dried up, but that did not stop Jimmy Lai from holding on to his beliefs, while the HK public stuck with him.
- When the National Security Law came into force and Lai was first arrested, the public supported him and protested in the most HK way possible: buying Next Digital Limited shares and driving up its share price even as the likelihood of the company being shut down by the HK Government’s moves grew, which would (and eventually did) render the company’s shares worthless.
- And then Lai was locked up again, and we are where we are both with him and with HK.
“The trajectory of his life reflects the history of Hong Kong itself,” said
@kevinkfyam in
@guardian.
"We kind of forget that
#JimmyLai and his media businesses played an important role in Hong Kong as an international financial centre because it kept the free flow of information going about Hong Kong’s corporate underbelly.”
#FreeJimmyLai
theguardian.com/world/2025/d…