China has his confidence, says Li Ka-shing in public rebuttal to reports

Hong Kong

LI Ka-shing expressed his full confidence in China on Tuesday, issuing for the first time a three-page rebuttal to reports that Hong Kong's richest man is selling out of the world's second-largest economy.

Accusations that he's pulling investments from the country are "completely untrue", he said in a statement issued by his companies. The property and telecommunications billionaire was responding to reports he's reducing holdings in a nation facing its slowest pace of growth in 25 years.