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Photo: Qin Louyue/China News Service via Getty Images

Hong Kong Chief Executive Carrie Lam said Friday that she is postponing the city's legislative elections for a year due to rising coronavirus concerns, the Wall Street Journal reports.

Why it matters, via Axios' Bethany Allen-Ebrahimian: The move is the latest in a rapid-fire series of measures dismantling Hong Kong's democratic traditions.

  • After the passage of a draconian national security law last month, Hong Kong residents who openly criticize the government face possible arrest, making it difficult to push back against the further erosion of political freedoms

The other side: Lam claimed the move was strictly a health precaution, despite the fact that a number of pro-Beijing politicians had called for the election to be postponed, stating, "There are absolutely no political considerations in these measures. I’ve been so busy tracking the virus situation in recent days, I hardly have time to see how the election competition is going."

Go deeper

Aug 25, 2020 - Podcasts

Ant Group preps giant IPO amid rising U.S.-China tensions

Chinese financial tech giant Ant Group today filed for what could become the largest initial public offering of all time, with plans to list in Hong Kong and Shanghai.

Axios Re:Cap digs into why this deal is as much about geopolitics as it is about stocks, and why New York got left behind.

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Beauty giant Coty Cosmetics looking to sell its own branded products

Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO

Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.

Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.