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Stamp fever in Hong Kong for handover tribute
by Staff Writers
Hong Kong (AFP) June 20, 2017


Company headed by Hong Kong's Li plays down retirement claim
Hong Kong (AFP) June 20, 2017 - The company headed by Hong Kong's richest man Li Ka-shing played down a report Tuesday that he plans to retire by next year, insisting he is "in very good health".

The Wall Street Journal said Li, nicknamed "Superman" for his financial acumen and influence over the city, had told associates he would step down as chairman of his global conglomerate CK Hutchison Holdings by 2018.

His retirement would likely come before his 90th birthday in July next year, the Journal said, citing "people briefed by the tycoon". One source said Li could retire by the end of this year.

But the firm played down the speculation. "Mr Li is in very good health," a spokesman said in an emailed statement.

"There is no concrete timetable at this stage and Mr Li will make his official announcement when he decides to retire."

The statement said Li had talked about his retirement "from time to time" and had expressed confidence in his eldest son Victor to lead the company in future.

Li is regularly asked about retirement at press conferences but never gives a straight answer.

However, a sweeping revamp of his vast empire in 2015 was seen as a sign that he was paving the way for Victor to take over.

Li's flagship CK Hutchison controls assets in telecoms, utilities, ports and other industries in over 50 countries.

His Cheung Kong Infrastructure company operates development, investment and infrastructure businesses in mainland China, the UK, Canada and other countries.

Li, still an avid golfer, got his start in 1950 making plastic flowers.

After diversifying into property, he made large profits in the 1960s and in the following decades his businesses reached into many sectors of Hong Kong life.

Local legend has it that he can even control the weather -- ensuring typhoons do not hit Hong Kong during the working day.

Enthusiasts in Hong Kong snapped up stamps issued to mark 20 years since the city was handed back to China by Britain Tuesday with a design paying tribute to the Chinese military.

The first stamp, released ahead of the July 1 anniversary, depicts marching troops from China's People's Liberation Army under the title "The Mighty and Civilised Forces".

It comes as the city remains deeply divided between those loyal to Beijing and groups demanding political reform who feel China is threatening Hong Kong's cherished freedoms.

The semi-autonomous city's liberties were guaranteed for 50 years in the handover agreement, but critics say China is trampling the deal with interference in a number of areas, from politics to education and the media.

The PLA is responsible for defending the city and has a garrison in central Hong Kong.

Some feared the army would be heavy-handed when it arrived in 1997, given the crackdown on student protesters in Beijing's Tiananmen Square in 1989.

Instead it has maintained a very low profile and is barred from interfering in local affairs.

Collectors said the stamps, which cost HK$10 ($1.28) each and are on sale for three months, were more nationalistic than previous commemorations as they gathered to buy them at Hong Kong's General Post Office.

"This stamp is very relevant and has a heavy military and Chinese flavour to it," explained collector Lok Ka-chung, 70, who said he would exchange them with fellow philatelists in mainland China.

"They've been stationed here for 20 years, they should be on the stamp," added collector Tommy Ying, a 40-year-old engineer.

Enthusiasts had queued earlier in June to buy PLA-themed envelopes, which have already sold out.

"The PLA's Hong Kong Garrison has a very important sense of mission for Hong Kong, stabilising its economy and law and order," said Joe Kwan, 58, a retired civil servant, when he lined up for the envelopes.

Kwan said he would send them to friends in China and overseas.

Many of the collectors Tuesday had created special envelopes or backgrounds on which they stuck the new designs and received a custom-made date stamp.

Before Hong Kong was handed back to China, there was also a rush on stamps featuring the profile of Queen Elizabeth II.

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