by: Xu He

update: Feb 27, 2015 10:30 GMT+8

Li Ka-shing calls on Hong Kong people to support gov't political development

Hong Kong business magnate Li Ka-shing on Thursday called on Hong Kong people to support the government's political development package, saying that economic prosperity cannot be sustained, if "politics is bad".

Li made the remarks when he released the annual results of his company Cheung Kong Holdings Ltd. at a press conference.

"If the development package is not passed, everybody, including myself, would be a big loser. Our country has provided an opportunity, as the new chief executive will be elected by five million eligible citizens, but the former chief executives were chosen by 1,200 people. I really don't understand why some people oppose the development package. Any responsible person who loves Hong Kong should allow it to go ahead," said Li.

Li added that he has been paying close attention to the changes in politics, as economic development is closely linked with political conditions.

Li also warned that if Hong Kong pulled the plug on the individual travel scheme and stopped all mainland visitors from coming, there is a danger that the stock market might be hit.