HONG KONG — Value Partners Group founder and honorary chairman Cheah Cheng Hye on Thursday urged Hong Kong to pursue democratic reforms, suggesting that electing the chief executive by universal suffrage could unlock the city’s financial hub potential.
Speaking at the Hong Kong Capital Markets Forum 2026, Cheah said the city should shift its focus from national security to economic and social reforms. He backed Chief Executive John Lee’s administration in maintaining stability and rule of law but proposed restructuring the fiscal model, which heavily depends on land sales and stamp duties, and allowing licensed casinos to stimulate nighttime economic activity.
Cheah added that geopolitical changes have created space to revisit previously contentious reforms, noting declining trust in Western countries. He said Hong Kong could advance electoral changes based on the 2014 proposal, describing it as a hybrid system rather than a Western-style democracy.