ASIA’S richest man Li Ka-shing on Tuesday voiced support for President Xi Jinping and rejected claims he was divesting assets from the mainland after a barrage of media articles accused him of turning his back on the country.

    In January, the Hong Kong-based tycoon overhauled his business empire to create two listed companies — one focused on property and the other on telecoms. This saw a shift in the incorporated base of his two main firms to the Cayman Islands from Hong Kong, fuelling speculation that Li was pulling out of the mainland.

    In a press release sent by email Tuesday, Li said he still resolutely supports China’s path to reform and opening up.

    “Li has great confidence in China and greatly admires Xi’s leadership style,” the statement said.

    It went on to cite the billions of dollars spent by Li and his family in China on education, innovation and medicinal research purposes.

    His comments came a week after Chinese media made pointed commentaries about his business decisions.(SD-Agencies)