Hong Kong tycoon Li Ka-shing (C) attends a press conference in south China's Hong Kong, March 16, 2018. Li Ka-shing said on Friday that he is retiring from his business empire. Li said he would officially step down as the chairman of CK Hutchison Holdings Ltd. and CK Asset holdings Ltd. at the annual general meeting of the company on May 10 and would serve as a senior adviser. He will be succeeded by his elder son Victor Li Tzar Kuoi. Photo:Xinhua

 
Li Ka-shing's eldest son Victor Li Tzar-kuoi, chairman of CK Hutchison Holdings and CK Asset Holding, has denied claims that his family business is withdrawing from the Chinese mainland, saying at on online briefing on Thursday that the claims are "out-of-date." 
 
"The Chinese mainland and Hong Kong is the home of our group, and there are emotional factors," Li said, adding that property is the group's original business but the conglomerate will still pay attention to return on investment.

Hong Kong and the Chinese mainland are the focal markets of the group's property business, and it will continue looking for development opportunities in real estate assets, Li said, stressing his confidence in the prospects for the two markets. 

Business tycoon Li Ka-shing's family has sold a number of overseas businesses and assets since 2020 in sectors such as energy, telecoms, property, electricity and aircraft leasing. 

CK Asset Holding has also just completed the sale of its building in London, 5 Broadgate, to South Korea's National Pension Service for £1.21 billion ($1.57 billion), marking the UK capital's biggest property deal in almost five years, the South China Morning Post reported. 

Li's family business delivered better-than-expected earnings last year. CK Hutchison Holdings reported a net profit rise of 15 percent year-on-year to HK$33.48 billion in 2021, and its revenue jumped 10.3 percent to HK$445.38 billion.