Former Hong Kong Xinhua Boss Explains his Defection
In a desperate move to stave off control of Hong Kong by the Chinese government in 1997, Hong Kong tycoons led by Helmut Sohnen, the Austrian son-in-law of shipping magnate Y K Pao, tried to set up a plan to pay Beijing HK$10 billion to lease the territory for 10 years and have Hong Kong people manage it.
The plan was bared recently in a local magazine b…
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