This is the tenth time for Li to cut his holding of the Chinese airline company this year, with about 1.5 billion Hong Kong dollars cashed cumulatively.

After the latest share reduction, Li Ka Shing held only 10.093 million shares or 0.85 percent of China Southern Airlines, down from 87.093 million shares or 7.41 percent.

The previous sale of Li happened on Nov. 8, with 5.8 million shares sold at 9.585 H.K. dollars per share.

Statistics show that Li Ka Shing started to buy into China Southern Airlines before 2005 through Cheung Kong (Holding) Limited, Hutchison Whampoa Limited and Li Ka Shing Foundation. The three related parties together held 193 million shares or 16.51 percent of China Southern by January 2005. (Edited by Liu Yanan; e-mail: )