A plan by the Democratic Party (DP) and allied groups to stage a march on New Year's Day will do nothing good for society, according to the chairman of the Real Estate Developers Association of Hong Kong.

Stanley Ho made the remark at a public function on Tuesday, warning against what he said were attempts to politicize economic issues.

He said what the special administrative region needed most was an environment where people could lead a stable and peaceful life, and feared that demonstrations like the New Year's Day march could undermine the local investment environment.

He expressed optimism for next year's property market, expecting prices to rise 10 to 15 percent, and added that he would not reduce his investment in Hong Kong given his understanding of the local situation.

His remarks followed the DP's announcement of a New Year's Day march from Victoria Park to the government's headquarters to criticize their relationship with businesspeople and to demand universal suffrage from 2007.

DP Vice Chairman Albert Ho estimated that about 20,000 to 25,000 people would join the march on Saturday afternoon.

Prior to the DP march, about 10,000 financial sector workers and small investors are also expected to demonstrate against the abandoned listing of the Link Real Estate Investment Trust (the Link).

At an earlier press conference, the organizer of the Link march, Hong Kong Securities and Futures Industry Staff Union, accused some politicians of politicizing the listing for their personal gain.

Two small investors have each filed claims against legislators Albert Cheng and Albert Chan with the Small Claims Tribunal for losses arising from the failed listing. The claims are scheduled to be heard on February 2.

(China Daily December 30, 2004)