15th May 2025 – (Hong Kong) Lai Changxing, once dubbed “China’s most wanted fugitive,” has launched legal proceedings in Hong Kong, even as he serves a life sentence in mainland China for smuggling and bribery. According to an exclusive report by HK01, Lai filed a lawsuit with Hong Kong’s High Court in September 2024, accusing prominent businessman Hon Kwok-lung of mishandling equity and land development rights tied to Cheong Ming International Investments Limited.
Cheong Ming, a Hong Kong-registered company co-founded by Lai and Filipino-Chinese businessman Jose Kho in 1998, was originally structured with Lai holding a 55% stake and Kho the remaining 45%. The lawsuit centres on the transfer of equity in Cheong Ming and its wholly owned Xiamen subsidiary, which held development rights to land in the prized Haixi City area. Lai alleges that Hon, now chairman of listed company Citychamp Watch & Jewellery Group (HKG: 0256), had been entrusted with his Cheong Ming shares but failed to act in his interest.
Lai’s dramatic fall from power culminated in his extradition from Canada to China in 2011, following a 12-year legal battle. Once the mastermind of a multibillion-dollar smuggling empire, Lai fled to Vancouver in 1999 after Chinese authorities uncovered a massive tax evasion scheme involving luxury goods, oil, and vehicles. Despite Beijing’s assurances that he would not face the death penalty, concerns about judicial fairness delayed his extradition. Upon his return, Lai was immediately arrested at Beijing Capital International Airport. In 2012, he was convicted of smuggling and bribery and sentenced to life imprisonment, with all personal assets confiscated.
Hon, a well-known figure in Hong Kong’s business community and a recipient of the Bronze Bauhinia Star in 2017, has declined to comment on the case. Through his company, Citychamp Watch & Jewellery, Hon stated that the matter is under judicial review and expressed confidence in the court’s ability to handle the case fairly.
The lawsuit adds a new layer of intrigue to the legacy of Lai, whose sprawling smuggling empire in the 1990s involved billions of dollars in oil, cars, and cigarettes, alongside accusations of bribing Chinese government officials. Lai fled to Canada in 1999 but was extradited to China in 2011 after a 12-year legal battle. He is currently serving a life sentence in China, with all personal assets confiscated.
Kho, Cheong Ming’s co-founder, has also been drawn into the controversy. Now a prominent businessman in the Philippines and founder of The Kho Group, Kho declined to comment in detail but stated through his company that all legal matters have been referred to his attorneys. His group also warned against speculative reporting, reserving the right to pursue legal action for defamation.
Cheong Ming’s assets, particularly the disputed Xiamen land, are at the heart of this legal battle. The Haixi City property, considered a prime location, was once a key part of Lai’s vision for large-scale development in the region. Public records indicate that the Xiamen subsidiary initially held the land rights, though details of subsequent transactions remain contested.
