The Hong Kong Media Tycoon Jimmy Lai arrested on suspicion of conspiring with foreign forces under the new security law. He is known for his support of the city's pro-democracy movement and criticism of China.
Jimmy Lai, arrested on early Monday, was taken in handcuffs from his home. Apart from him, the police also arrested two of his sons and two of his top executives. The two executives are Cheung Kim Hung, the chief executive of the next digital media company, and Chow Tat-Kuen, the company's chief financial officer.
Jimmy Lai is a businessman who is worth more than one billion. Initially, he began with the clothing industry, but he later ventured into media and established the newspaper "Apple Daily." The paper is often critical of Hongkong as well as mainland Chinese leadership.
According to the Chinese University of Hong Kong, Apple Daily became the most read paid publication in the region, both print and online.
Apart from this, he has also been an activist against Beijing's increasingly closed grasp on Hong Kong. Last year, he supported the reform revolts and joined in the demonstrations.
When the security law passed, Jimmy Lai warned that Hong Kong would evolve as corrupt as mainland China as, without the law, there would be no protection for the businessman.
Hong Kong has a great extent of sovereignty since it returned to Chinese rule in the year 1997. Also, it's residents also have a far higher level of freedom of speech and media than people on the mainland.
But as the new security law imposed, it comprises crimes of secession, subversion, terrorism, and cooperation with foreign forces, which is punishable by a maximum sentence of life in prison. It will make it simpler to punish protestors and reduce Hong Kong's freedom.
The statute also gives Beijing power to mould existence in the British nation in a way it has never had before.
Critics are against it as it effectively diminishes protest and freedom of speech. However, China explained that the new law would return strength to the region after a year of turmoil.
The introduction of New Security law leads to many violent Pro-democracy protests in the country.
Jimmy's publications, Apple Daily and Next Magazine are pro-democracy as well as critical of Beijing. Not only this, but the funds of this journal are from Jimmy's pocket because few companies are scared to advertise with them.
After his arrest, Next Digital shares rose more than 250% as proponents made online calls for people to buy the stock. In addition to this, few hong kong members generate the level of personal vitriol from Beijing that Lai does across the border.
China gave him the term "Traitor" and a "Black Hand" behind 2019's protests.
In one of the interviews, Jimmy told that he prepared for the prison. He feared that authorities would come after his journalists and also described this new security law as a "Death Knell for Hong Kong." He also stated that the citizens of Hong Kong have the right to meet with foreign politicians.
That's the wrap for today. For further updates, STAY TUNED with us!
If you found this informative, you can check my other article too: Back to school gadgets.