Chapter 459 The Harshest Punishment — Shutting Down Three Media Outlets
"So quickly there's a reaction?" Even Lin Haoran himself was a little surprised.
It had only been last night that he gave his televised speech, and the results of the government land auction had only been made public yesterday as well.
Yet, in just one night, the real estate market in Hong Kong seemed to be showing signs of revival?
He was even astonished at his own influence.
He hadn't expected the citizens of Hong Kong to place such deep trust in him.
With just his own strength, he had managed to stir the economic pulse of the entire city.
Is this the extent of my influence?
Lin Haoran felt a mix of emotions, his thoughts swirling.
"Boss, the real estate market had been showing signs of cooling off recently. Yesterday was January 1st, the New Year's holiday, and many developers launched significant promotional events to attract buyers, hoping to stimulate the market.
However, despite all the promotions, citizens' confidence remained low yesterday, and sales didn't meet expectations.
But today, the situation changed dramatically.
Most of the developers didn't withdraw their discount offers. On the contrary, they increased them, clearly hoping to capitalize on the momentum generated by your expected speech.
Your address, along with the news of Jardines Matheson's successful auction of the five government plots, acted like a strong booster shot, reigniting the citizens' enthusiasm for home buying.
Now, many who intend to invest or purchase for self-use are rushing in, fearing that if they miss this opportunity, prices will surge again just like before," Ma Shimin reported, his voice full of admiration and respect.
Lin Haoran's influence had far exceeded anyone's expectations.
"I see. Anything else I need to handle?" Lin Haoran asked, not dwelling too much on the flattery.
"Nothing urgent. I mainly wanted to report the real estate situation to you.
Oh, and one more thing—Motorola's technical and negotiation teams will arrive in Hong Kong tomorrow," Ma Shimin added after a moment's thought.
"How are preparations going on the Hong Kong Telephone Company side?" Lin Haoran asked.
"Everything's ready.
The General Manager of Hong Kong Telephone Company, Mr. David, is an expert in telecommunications.
You can rest assured about the cooperation with Motorola.
From initial talks to contract signing, I'll personally oversee everything," Ma Shimin said confidently.
"Good. Thanks for your hard work," Lin Haoran expressed his satisfaction.
After hanging up, Lin Haoran sat back in his chair.
It was still early.
He decided he would head out after lunch.
Meanwhile, at Government House, between Upper and Lower Albert Roads in the Mid-Levels of Central, an emergency meeting had been convened early in the morning.
Before 9 AM, Governor MacLehose urgently summoned the Financial Secretary, the Attorney General, and the Commissioner of Police, demanding their attendance by 9 sharp to discuss a critical matter.
The main topic was how to handle Jardines Matheson and the three newspapers: Sing Tao Daily, Overseas Chinese Daily, and Hong Kong Industrial & Commercial Daily.
Though Jardines Matheson was a British-owned enterprise, its actions had caused serious losses to the Governor's Office and, by extension, the British government.
Never before had the Governor's Office suffered such a monumental loss.
Thus, both Jardines Matheson and the implicated newspapers had to be held accountable.
Only then could Governor MacLehose provide a satisfactory report to Britain.
He ground his cigar into the golden ashtray, the smoke curling into the air, framing his stern, tight-jawed expression.
Around the oval conference table, the Financial Secretary solemnly presented the estimated financial losses caused by the real estate crash, the report pages rustling under the draft.
"Our preliminary estimate puts the loss at no less than 3 billion HKD," the Financial Secretary said before being abruptly cut off by MacLehose.
"I already know that," MacLehose snapped. "What matters is that everyone here understands—perhaps some of you have complex ties with Jardines Matheson—but the damage done to the Governor's Office and the British government is undeniable. Jardines Matheson must be held accountable."
The Attorney General cleared his throat and prepared to speak.
"From a legal standpoint, the actions of Jardines Matheson and the three newspapers have harmed public interests.
We have full grounds to file lawsuits, demand compensation, and apply the harshest penalties. No leniency should be shown."
"I agree," said the Commissioner of Police.
"Moreover, we should intensify surveillance on these organizations to prevent any further disruption to Hong Kong's social and economic stability."
The room filled with nods of agreement.
This was no longer a simple business dispute—it was a direct challenge to the Governor's authority and a threat to Hong Kong's social order.
If they didn't deal with this harshly, other firms might attempt similar provocations in the future.
"So, what do you propose we do?" Governor MacLehose asked, his gaze sweeping the room.
The Financial Secretary stood up and said,
"First, we must issue an official statement immediately, condemning Jardines Matheson and the three newspapers, making our position clear.
Then, under the Attorney General's direction, we should prepare legal documents to file lawsuits.
Meanwhile, the police must intensify investigations and gather further evidence.
Additionally, we must freeze all property transactions involving Jardines Matheson in Hong Kong to prevent asset transfers."
"As for the newspapers, their actions have severely damaged the Governor's Office's interests and reputation.
Though they once helped promote our messages, they are now liabilities.
Thus, I propose revoking their licenses immediately, seizing all their publications, and arresting their top executives for economic crimes, handing their cases to the ICAC for thorough investigation.
We must make it clear:
Any force that damages the authority and interests of the Governor's Office will face the harshest punishment."
The Financial Secretary's proposal was ruthless—complete shutdown and legal action.
One senior official at the table hesitated, his lips moving as if he wanted to object.
But upon meeting Governor MacLehose's steely gaze, he wisely chose to remain silent.
He knew very well that he had benefited from Jardines Matheson's favors over the years.
But under the current political storm, speaking out for Jardines Matheson would be suicidal.
"Punishment is necessary," Governor MacLehose said after a pause, "but it must be within the bounds of the law. That is non-negotiable—even for Jardines Matheson."
He continued,
"As for the three newspapers, I fully support the Financial Secretary's proposal.
But when dealing with Jardines Matheson, we must tread carefully."
After all, Jardines Matheson had deep ties to powerful British interests, including the Rothschild family's investments.
Thus, while punishment was inevitable, it needed to be measured to avoid sparking wider political or economic repercussions.
The officials present all nodded in agreement.
After the meeting, the Governor's Office moved swiftly.
By noon, the first targets were the newspapers.
When employees arrived for work, their offices were suddenly surrounded by law enforcement.
Soon after, their owners, editors-in-chief, and general managers were arrested.
A severe investigation and legal process awaited them.
At 12 PM, the Governor's Office released a public announcement:
Hong Kong Governor's Office Announcement!
Upon investigation, Sing Tao Daily, Overseas Chinese Daily, and Hong Kong Industrial & Commercial Daily are found guilty of spreading false information, manipulating markets, and harming public interests, severely violating the Publication Management Ordinance and the Media Business Ordinance.
Effective immediately:
The licenses of the three media outlets are revoked, and all publications must be withdrawn from circulation.Twenty-one executives, including general managers and editors-in-chief, are placed under judicial detention. Economic crimes will be referred to the ICAC for investigation.A media sector clean-up operation will begin this month. Citizens are encouraged to report violations via the Governor's Office hotline.
The Governor's Office reiterates that no entity will be allowed to undermine Hong Kong's rule of law.
Evidence of illegal financial transactions has already been reported to the Privy Council in London.
Governor's Office of Hong Kong
January 2, 1981
With this announcement, the history of three major newspapers in Hong Kong officially came to an end.
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