HONG KONG – A new alliance comprising a long list of prominent figures and tycoons will focus on ways to move Hong Kong forward and mend the rift in society by looking at how to create jobs for young people and to revive the economy.

Set up by two of Hong Kong’s previous chief executives, Mr Tung Chee Hwa and Mr Leung Chun Ying, the Hong Kong Coalition comprises more than 1,500 members from all walks of life.

Both Mr Tung and Mr Leung are vice-chairmen of the Chinese People’s Political Consultative Conference, China’s top advisory body.

Members of the coalition include business magnate Li Ka Shing and his two sons, property tycoon Lee Shau Kee, current member of the Standing Committee of the National People’s Congress Tam Yiu Chung, and the Basic Law Committee’s Maria Tam.

At the launch on Tuesday (May 5), Mr Tung outlined three crises the city now has to grapple with: the coronavirus pandemic, the political impasse and a slumped economy.

Although the Covid-19 outbreak has somewhat stabilised in Hong Kong, he cautioned that Hong Kongers need to remain alert, adding that anti-extradition protests last year have fragmented society and that the anti-government forces behind the movement have pushed Hong Kong to the edge.

Hong Kong’s economy shrank by 8.9 per cent in the first quarter from a year ago, making it the steepest decline on record since 1974, according to advance estimates released on Monday.

Financial Secretary Paul Chan earlier said the economy is expected to contract between 4 per cent and 7 per cent this year.

To help residents and the economy, Mr Leung said the new group, whose manifesto includes upholding the “one country, two systems” principle, will discuss concrete plans to create jobs and build up young people’s experience through training and volunteer programmes.

On the Covid-19 pandemic, he said the coalition has received feedback from various representatives on how to relieve the burden of residents.

To this end, the coalition will be giving out 10 million face masks for children and adults over the weekend.

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