John Lee, a Beijing loyalist, has been elected as Hong Kong's next Chief Executive.
in Sunday's election. He only needed a simple majority and obtained more than the 750 votes required.
About 1,500 members of a largely pro-Beijing election committee cast their votes at the chief executive election. "I extend my sincere congratulations to Mr John Lee on his successful election and later today, I will submit a report of the election result to the Central People's Government," outgoing Chief Executive Carrie Lam said on Sunday.
"The present-term government and I will ensure a seamless transition with the Chief Executive-elect. We will render all the support needed for the assumption of office by the new term of government," Lam said in a government press release.
"Lee's appointment will reinforce Hong Kong's shift from being a global financial and business center to playing a narrower role as a capital gateway for China," Eurasia's analysts said. "While the risks to political and financial stability are modest, Lee's administration may be poorly equipped to respond to a major shock."
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