Hong Kong Cautious in Sending Tycoon Jimmy Lai Back to Jail over Security Breaches

Hong Kong Cautious in Sending Tycoon Jimmy Lai Back to Jail over Security Breaches

Hong Kong’s highest court sent tycoon Jimmy Lai back to jail, a ruling which avoids showdown with Beijing over security law for now, according to Bloomberg. Lai is fighting national security charges, and the government appealed against his bail due to the seriousness of the accusations.

  • Lai was released from jail last week on HK$10 million ($1.3 million) bail by a lower court and placed under house arrest pending trials.
  • The release of Lai by the lower court was criticized by the People Daily newspaper warning that the case could be moved to mainland courts under the security law.
  • The ruling could fuel concern about pre-trial imprisonment under the legislation, which criminalizes secession, subversion, terrorism, and collusion with foreign powers.
  • A February 1 hearing will discuss the case, which could affirm the judiciary’s right to interpret a Beijing legislation drafted by the National People’s Congress and approved by President Xi Jinping.
  • There are speculations that the National People’s Congress could preempt the court with its own interpretation of the security law, overruling the local judicial process.
  • The U.S., U.K., and others have accused Beijing of breaking its agreements to maintain Hong Kong’s liberal institutions, including its “independent judicial power,” until 2047
  • Lai has denied the charges and said he is being targeted for fighting for freedom of speech in the city.

So far, about 29 people have been charged under the security law since it was enacted on June 30

Our Experts


Daniel Michelson

Daniel is a long term investor and position trader in the forex market.

Reva Green

Reva Green is the Senior Editor for website. An experienced media professional, Reva has close to a decade of editorial experience with a background.

Shandor Brenner

Shandor Brenner, an experienced writer at fxaudit.com, brings a wealth of knowledge with over 20 years in the investment field.

Leave a Reply

CAPTCHA ImageChange Image