Hong Kong authorities on Friday announced they had frozen the assets of billionaire pro-democracy tycoon Jimmy Lai, including shares in his media publications, for breaching the city's national security law.

Hong Kong authorities have frozen all assets of the pro-democracy activist and billionaire tycoon, Jimmy Lai a few weeks after he was sentenced to 12 months in prison. Lai, along with a few other activists was held for taking part in an unauthorised assembly during the 2019 mass pro-democracy protests in the Chinese-ruled financial hub. Also read | Hong Kong court sentences media tycoon Jimmy Lai to 12 months prison