Selwood Asset Management advocates for Louis Hachette market listing change - Global Banking & Finance Review
The image illustrates Selwood Asset Management's proposal for Louis Hachette to change its stock market listing, emphasizing potential growth and visibility in the finance sector.
Headlines

Hong Kong's last major opposition party moves towards disbanding

Published by Global Banking & Finance Review

Posted on April 13, 2025

2 min read

· Last updated: April 13, 2025

Add as preferred source on Google

Hong Kong's Major Opposition Party Nears Disbandment

By James Pomfret and Jessie Pang

HONG KONG (Reuters) - Hong Kong's last remaining major opposition party took a key step towards disbanding itself on Sunday after a special meeting approved arrangements to do so in the face of pressure from China, amid a national security crackdown.

Five senior members of the Democratic Party had earlier told Reuters that Chinese officials or middlemen had warned it in recent months to disband or face serious consequences, including possible arrests.

The party, founded three years before Hong Kong's return to Chinese rule from Britain in 1997, has been the Asian financial hub's flagship opposition, uniting democratic forces to push Beijing on democratic reforms, and to uphold freedoms.

Party head Lo Kin-hei told reporters that 90 percent of 110 members had voted at Sunday's meeting for a three-person committee to start making arrangements for disbandment, including resolving legal and accounting matters.

"I hope Hong Kong's political parties ... will continue to work for the people," Lo said at the party's headquarters. "We have always hoped to serve the Hong Kong people, and to do things that are good for society."

After the panel completed its work, a final vote on dissolution would be held in coming months, Lo added. Finalisation of the move requires a majority vote of 75 percent.

Lo did not give an exact date for completion of disbandment, but said it could be as late as next year, adding, "Until the final dissolution, the party will keep on with its usual work."

(Reporting by James Pomfret and Jessie Pang; Editing by Clarence Fernandez)

Key Takeaways

  • Hong Kong's last major opposition party is moving towards disbandment.
  • The Democratic Party faces pressure from China amid a security crackdown.
  • A special meeting approved arrangements for disbandment.
  • 90% of members voted for a committee to manage disbandment.
  • Final dissolution requires a 75% majority vote.

Frequently Asked Questions

What is the main topic?
The main topic is the disbandment of Hong Kong's last major opposition party due to pressure from China.
Why is the Democratic Party disbanding?
The Democratic Party is disbanding due to pressure from Chinese officials amid a national security crackdown.
Who is leading the disbandment process?
A three-person committee, approved by 90% of members, is leading the disbandment process.

Related Articles

More from Headlines

Explore more articles in the Headlines category