Hong Kong Formally Withdraws Extradition Bill — Will That Satisfy Protesters?

Hong Kong’s embattled leader Carrie Lam speaks in a pre-recorded video about the decision to formally withdraw legislation to allow extraditions to China. She also discusses plans for an independent study of the government’s performance and reaffirms her commitment to reviewing police actions after months of unrest in the Asian financial hub.

Lam announced the move in a televised address Wednesday, after a meeting with pro-establishment politicians including local legislators and the city’s representatives to national legislative bodies. She also pledged an independent study of the government’s performance and reaffirmed her commitment to reviewing the police actions -- while saying she couldn’t accept other protester demands such as dropping rioting charges against demonstrators.

“Incidents over these past two months have shocked and saddened Hong Kong people,” Lam said, seated at a desk, her hands folded. “We are all very anxious about Hong Kong, our home. We all hope to find a way out of the current impasse and unsettling times.”

Hong Kong stocks jumped, led by property developers, after news reports that she would withdraw bill. The benchmark Hang Seng Index rose 3.9% -- the biggest gain since November -- before her speech, although futures slipped after she made clear that she wouldn’t meet some protester demands.

“Carrie Lam’s so-called concessions have come too little too late, the damage is done, the scars and wounds are still bleeding in Hong Kong,” Claudia Mo, a pro-democracy lawmaker, who has been a prominent participant in some of the biggest marches, told a briefing after the announcement. “If she thinks she can use some garden hose to put out some hill fire, that’s not possible.”

The online forum LIHKG -- a popular sounding board and organizing platform for protesters -- also indicated disappointment with Lam’s action. A post titled “Two out of five demands met. Do we accept?” garnered 415 thumb-downs in less than 15 minutes.

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