ALL YOU REPORTERS are missing the real reason for the proposed extradition law changes in Hong Kong, a financier told me. Really? I was skeptical, but listened.
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A furious Xi Jinping is trying to halt a boom in the number of corrupt rich citizens taking cash out of China and stashing it in Hong Kong, he said.
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Xi has implemented numerous new rules within China to stop unauthorized capital outflow, but the leaks have been continuing for months.
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The proposed amendment to Hong Kong’s Fugitive Ordinance is part of a program to stop corrupt individuals escaping through the one country two systems loophole, the source said.
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