Ask yourself this question, imagine now that the CE were to be chosen through direct election and Alan were to win the race, would HK people be better off in terms of their enjoyment of economic freedom?
The answer is no because he is an advocate of competition law, maximum working hours, minimum wage and other populist policies...
What if Donald Tsang were to win?
The answer is still no because he is pretty much supportive of the same thing.
Now you see the crux of the problem. The issue is not democracy. What we need is a mechanism through which government power is limited, constrained, chained.
Sadly, no candidate sees that as a problem that needs to be addressed.
Addendum
This is a quote from Hayek's Law, Legislation and Liberty Volume 3 p.21 that makes the very same point that I am trying to make above:
"[D]uring the English Civil War the abuse of its power by Parliament 'had shown to men who had previously seen only the royal power as a danger, that Parliament could be as tyrannical as a king' and this led to the 'realization that legislature must also be subjected to restriction if individual freedom was not to be invaded."
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