A series of consequential political developments and controversies made 2025 a significant year for Hong Kong. Hong Kong tycoon Li Ka-shing’s company CK Hutchison Holdings was caught in the crossfire of US-China tensions over a deal to sell its Panama Canal ports, which was eventually put on hold under pressure from Beijing. Locally, the city held its second Legislative Council election under Beijing’s “patriots-only” overhaul, with the voter turnout slightly surpassing the previous record...