Even this limited system may never see the light of day. Before it can be implemented, the framework must be approved by two-thirds of Hong Kong's parliament. The handful of pro-democracy legislators who are needed to get the proposal passed may now withhold their support. If the framework is rejected, Hong Kong will stick with its current system, where the chief executive is picked by an unrepresentative committee. The plan to introduce universal suffrage will be shelved.
In the short term, China's decision will fuel support for Hong Kong's "Occupy Central" movement, which plans to blockade the central financial district. Beijing may believe support for civil disobedience is not widespread. Alternatively, it may view the confrontation as a necessary risk to stop demands for more democracy taking firmer root on Chinese soil.
Either way, it's increasingly clear that the "hands-off" philosophy that has guided China's approach to Hong Kong since it reclaimed the territory from Britain 17 years ago no longer applies. That's a concern not just for voters, but also for businesses and financial institutions that see Hong Kong as a haven of legal predictability and transparency, especially when compared to the mainland. It's also a reminder that China is less bothered than it once was about what the rest of the world thinks of its approach.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
