Billionaire shipping magnate Tung Chee-hwa, who held the job from 1997-2005, was found to have set up offshore companies after leaving office, the papers showed. Both remain part of the ruling Chinese Communist Party (CCP)'s political system for governing Hong Kong, which has seen a rapid and widening erosion of its promised freedoms amid a citywide crackdown on dissent and political opposition under a draconian security law imposed by Beijing.
The Pandora Papers investigation saw 600 journalists from 150 news organizations in 117 countries comb through nearly 12 million files from more than a dozen financial institutions. They found paper trails linking world political and business leaders to trillions of dollars in offshore wealth.
