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Jimmy Lai Chee-ying, founder of Apple Daily and media group Next Digital of Hong Kong, was granted HK$10 million bail by Hong Kong High Court on Wednesday, local media reported.

Lai, along with two other senior executives from Next Digital, was charged with fraud earlier in December.

According to Hong Kong police, Lai is also facing a new charge of colluding with foreign forces and endangering national security under the city's national security law.