Hong Kong elects new CEO

Rappler.com

NEW LEADER. Hong Kong chief executive elect Leung Chun-ying waves after being announced as the winner of the Hong Kong chief executive election on March 25, 2012. Photo by AFP

As expected, Leung Chun-ying was declared as Hong Kong’s incoming CEO on Sunday, March 25, after China’s leaders switched to support him, heeding public opinion and popular resentment of the former British colony’s billionaires amid soaring housing prices and widening rich-poor gap. Leung benefited from the scandals that hounded wealthy businessman Henry Tang, the initial frontrunner backed by Beijing and Hong Kong’s powerful tycoons. News of Tang’s extramarital affairs, an out-of-wedlock child, and the the discovery of an illegal underground entertainment den at his home hurt his chances. Street demonstrations, however, are expected to continue as many Hong Kongers desire to directly elect their leader. Beijing has promised universal suffrage for 2017, when Leung’s 5-year term ends. Leung, who was chosen by around 1,200 pro-Beijing elites, starts his 5-year reign in July.

Read about the recently concluded Hong Kong election and street demonstrations on Rappler.

Read Leung Chun-ying profile on Rappler.