Hong Kong newspaper mogul Jimmy Lai said Thursday that there was no immediate prospect for Internet businesses in China.
In a press conference, Lai said that he would concentrate on developing his Internet business in the Hong Kong market.
Lai is well known for provoking the ire of the Beijing Government by printing controversial articles and criticizing the regime for its crackdowns against dissidents and the media.
Lai owns the immensely popular Hong Kong newspaper Apple Daily and Next Magazine. The online version of Apple Daily is the most visited Hong Kong website with 2 million page views.
The publishing tycoon recently engineered a backdoor listing for his Next Media International Holdings Ltd through Paramount Publishing Group Limited.
Lai also plans to use Paramount to start various e-commerce services.