The Cato Institute is honoring Hong Kong entrepreneur and democracy advocate Jimmy Lai with the 2023 Milton Friedman Prize for Advancing Liberty, an award presented every two years to individuals or groups who have made key contributions in promoting human freedom.

According to the Cato Institute, Lai has been instrumental in leading the fight for democratic rights and freedom of the press in Hong Kong, where he remains imprisoned without bail. An outspoken critic of the Chinese government and a supporter of democratic rights, he is facing charges that could keep him behind bars for life.

“By selflessly sacrificing his own freedom to fight against the authoritarian government of China, Jimmy is an inspiration to millions in the struggle for liberty and justice around the world,” Peter Goettler, CEO of the Cato Institute, told the Institute's website.

According to the Cato Institute, Lai was born in China and made his way to Hong Kong as a stowaway at the age of 12, working his way up from child laborer in a garment factory to launching the clothing retail chain Giordano.

Lai later jumped into the media fray, founding media company Apple Daily in 1995, which advocates for democracy and free markets, according to the Cato Institute. Lai has been a central figure in the fight in Hong Kong for democratic reform since the Tiananmen Square massacre in 1989.

Lai ramped up his efforts after a national security law was enacted in 2020 that expanded the suppression of rights and freedoms of Hong Kong residents by the mainland Chinese government. Lai was sentenced to five years in prison in December and a trial is set for September, which could result in a life prison term.

According to the Cato Institute, the Milton Friedman Prize will be presented to Lai’s son, Sebastian, on Thursday, May 18, at a dinner in Washington, D.C.