HONG KONG, March 22 -- Hong Kong is now facing more opportunities in development, Hong Kong tycoon Li Ka-shing said on Wednesday.
Li made the remarks at a press conference after the release of 2016 earnings by CK Hutchison Holdings Limited and Cheung Kong Property Holdings Limited.
He said that "as long as you get the right information and make the right decision, I believe all roads lead to Rome."
Li, 89, expressed his deep love for Hong Kong and hoped the city can sharpen its competitive edges and prosper further.
CK Hutchison Holdings Limited raked in 33 billion HK dollars (4.25 billion U.S. dollars) in 2016, up 6 percent year on year, while Cheung Kong Property Holdings Limited pocketed 19.42 billion HK dollars in 2016, up 13 percent from the year before.
Li, whose companies have investments in phone networks, power plants, retail stores and other assets all over the world, said he came to Hong Kong at the age of 11 and started doing business in 1950.
During the process, he observed Hong Kong to go beyond wartime difficulties and prosper ... nowadays Hong Kong still has many opportunities and "we ourselves should not waste them," he noted.
Talking about some mainland developers bidding land in Hong Kong, Li said Hong Kong has the advantage of being an open market and should keep its strength as a free city.
"The bidding system is fair and transparent. They were just commercial decisions. I have no negative feelings about it," he said.
Asked about his opinions on Hong Kong's property market, Li said, "I don't advise buying for speculation. There's nothing wrong in buying one apartment for your own use."
Asked about his schedule for retirement, Li said, "I will turn 90 next year. It will be silly if I have not arranged about retirement ... If I were to retire, I will not just play golf or go fishing. I will spend more time on Li Ka Shing Foundation (set up in 1980 for charity) and become a senior adviser for the group."
