Credit Suisse Board Member Launches New Hong Kong Party

Credit Suisse Board Member Launches New Hong Kong Party

A board member at Credit Suisse joins two other executives to establish a new party in Hong Kong to seek reforms and «promote a democratic political system best suited» for the city.

Shan Li, a member of the Credit Suisse board, is one of the three individuals listed as founders of the «Bauhinia Party», according to Hong Kong’s Companies Registry. 

According to a public document, the party seeks to «promote a democratic political system best suited to Hong Kong based on the rule of law and civil liberty with the realization of universal suffrage as guaranteed by the Basic Law, so as to safeguard Hong Kong’s long-term prosperity and stability».

Pro-Establishment Bankers

The 57-year old Li is a Sichuan-born banker who lived in Hong Kong for 20 years after graduating from Tsinghua University and further studying abroad in the U.S. In addition to his role with Credit Suisse, Li is also the chief executive of Silk Road Finance Corporation in Hong Kong and private equity fund Chinastone Capital Management in Shanghai.

Outside of finance, Li is also a delegate to the national committee of the mainland’s top political advisory body, the Chinese People’s Political Consultative Conference (CPPCC) and holds positions within several think tanks including vice-chairman of the Silk Road Planning Research Centre and the Tsinghua Institute for Governance Studies. 

Co-founders of the party include mainland banking veteran Wong Chau-chi – chairman of multimedia firm CMMB Vision and director of private equity fund Chi Capital –and Chen Jiawen, chairman of local cosmetics chain Bonjour.

Potential Reforms

Last month, Li delivered a speech at his alma mater about the social unrest in Hong Kong as a motivator for the establishment of the new party which aims to register 250,000 members. 

Reforms suggested include the creation of a 1,700-hectare metropolis in the manmade islands of southwestern Hong Kong as well as the recruitment of Hong Kong residents in the People’s Liberation Army.