Hong Kong Chief Executive Donald Tsang sought to restore trust in his leadership and stem a growing outcry over collusion between politics and business, as he pledged to cooperate with a probe into his ties with tycoons.
William Ackman, founder of hedge fund Pershing Square Capital Management LP, will “lose a lot of money” on his bet that Hong Kong will amend its currency peg to the dollar, city Chief Executive Donald Tsang said.
Hong Kong Chief Executive Donald Tsang said “You got me on that,” when challenged on his claim to have carried out all he pledged when he stood for office in 2007. The missing achievement: cutting corporate taxes.
Hong Kong’s widening wealth gap, with home prices soaring 70 percent since the start of 2009, may prompt an increased turnout in annual protests this week as the territory’s leader suffers his lowest poll ratings yet.
Hong Kong’s new leader is taking up the battle his predecessor failed to win, seeking to overcome record low mortgage rates and an influx of Chinese buyers to make housing in the world’s most expensive city more affordable.