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| Political parties used to raise lots of money from stalls like this |
With the implementation of the national security law last June that led to the arrest of 47 pan-democratic lawmakers and activists, and now the overhaul of the electoral system, the opposition in the Legislative Council has been decimated literally and also financially.
Opposition parties are losing their main sources of fundraising from participating in rallies, Chinese New Year flower market stalls, and holding annual dinners because of the coronavirus pandemic. And now there is the added pressure that crowdfunding online has led to people involved being arrested for money laundering, thus scaring donors away.
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| Leong says Civic Party can only last a few months |
"The problem is, if you're donating to a party which is accused of subversion, would you not think twice before digging into your purse?" Civic Party chairman Alan Leong Kah-kit said.
Several members of the party are being detained for alleged national security offences and have also recently quit the party, which is the second-biggest in the opposition camp.
Leong revealed the Civic Party now has just enough money to continue for another four or five months unless it received more funding.
Meanwhile the Democratic Party has launched its fundraising campaign by selling raffle tickets for HK$20 each with prizes ranging from an Apple iPad, Dyson purifier and Apple watch.
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| Democratic Party now holding raffle ticket sales |
To raise other funds, the Democratic Party sold property in Lai Chi Kok but still needs an additional HK$4 million hopefully from raffle ticket sales to stay afloat.
"When I look at the balance sheets, this is the worst of the worst I have seen since I joined the party [10 years ago]," he said.
Yuen added the mass resignation of the lawmakers in Legco also hit the Democratic Party financially, as they would usually contribute 10 percent of their salary, which made up 10 percent of the annual income. In 2019 the members donated HK$1.3 million.
Leong of the Civic Party can't even consider thinking about running for the Legco elections in December when the party may not financially survive until then.
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| Ng says street booths have fewer donations now |
"We could collect up to HK$400,000 to HK$500,000 on those occasions," said Avery Ng Man-yuen, vice-chairman of the League of Social Democrats.
It's a sad state of affairs to see the opposition in such financial straits. This may be the beginning of the end of them being crushed financially and their donors either not having enough money themselves to donate or are concerned about getting into trouble making contributions.
Beijing must be pleased to see this happening, easily crushing the opposition by financially strangling them...










