Hong Kong leader set to withdraw China extradition bill

Hong Kong Leader Carrie Lam announced on Wednesday that she was withdrawing an extradition bill granting Beijing the power take people away into what some critics said was China's opaque legal system.

The bill was so controversial that it sparked huge anti-government protests when it was unveiled, three months before, which had yet to die down.

Lam had previously said there was no room for compromise regarding the bill although it had been temporarily suspended.

The concession came ahead of the 70th anniversary of the founding of the People’s Republic of China on 1 October, with the Chinese Communist Party apparently remiss of anything that might tarnish the celebrations.

But some protesters were not cheering, arguing that the move was too little too late.

Indeed, the protest movement's leaders were now making five demands.

"I'm glad it's finally done, but it's not sufficient," protest organizer Bonnie Leung told CBS News on Wednesday. "Five demands, not one less," she said.

They also wanted an independent inquiry into police brutality and for Lam to resign.

The Hang Seng – the city’s benchmark stock-market index – jumped by 3.9% to 26,523,23 following the announcement.