A change in corporate record-keeping in Hong Kong has turned into a flashpoint for the debate about freedom of information in the Chinese territory . Many in the city take pride in what they say is a transparent and open financial system , in contrast to the situation across the border in Mainland China . Now Hong Kong 's government has proposed limiting the information that is available to the public about corporate directors `` to enhance protection of the privacy of personal information . '' The plan would remove directors ' residential address and their full Hong Kong identification numbers from the Company Registry . The information is regularly used by both investigative journalists and financial firms to help trace who is running a Hong Kong-registered company . A petition declaring `` Secrecy Breeds Corruption '' appeared in the pages of five Hong Kong newspapers Monday morning , followed by the signatures of more than 1,700 journalists , educators and students , who strongly oppose the change . Information from the database was used in two high-profile stories last year that looked into the wealth of the families of China 's ruling elite , which appeared in The New York Times and Bloomberg News . A number of stories on property scandals within Hong Kong also relied on information from the database . The petition declared the change an `` infringement of the public interest , '' which would have a `` great impact on professional and citizen journalists ' right to conduct investigative reporting . '' Members of the business community and investors have also voiced concerns about the proposed change . David Webb , a well-known investor activist and editor of Webb-Site.com , says the change would make it harder for investment banks and IPO sponsors to determine a person 's real assets . `` It basically undermines our reputation for free markets , transparency and the rule of law , '' Webb said . Issues like this one often flame fears in Hong Kong about the interference of the Chinese government in the city 's affairs . Hong Kong , a former British colony , is part of China but maintains freedom of the press , speech and no Internet controls . Residents are often fiercely vocal in response to anything they see as infringement of these rights .
Hong Kong government proposes making corporate database available to public . Would require directors ' address , full Hong Kong ID numbers from Company Registry . Journalists , financial firms use it to trace who is running a HK - registered company . Information about wealth of HK 's people found by leading news outlets on database .