Hong Kong property tycoons will be limited to two seats per family on the body that chooses the city’s leader, the South China Morning Post reported, the latest move by China to curb traditional power bases in the Asian financial hub.
The richest families of the city’s biggest conglomerates, including CK Hutchison Holdings and New World Development, have been informed of the new cap, the newspaper said in a Monday report, citing people familiar with the matter. It didn’t elaborate on who gave the order.
