The arrest comes after China imposed a sweeping new national security law on Hong Kong in late June.
More than a day after his arrest under China's newly imposed national security law in Hong Kong, the anti-Beijing figure was released to the cheers of his supporters.
The pro-democracy media mogul Lai and activist Chow are the highest profile arrests made under Beijing’s sweeping national security law.
Lai owns the group which publishes anti-Beijing paper Apple Daily. His arrest marks the first time the law is being used against Hong Kong's news media.
The US and the UK both criticised the arrests of anti-Beijing movement supporters included Democratic Party founder and barrister Martin Lee, 81, millionaire publishing tycoon Jimmy Lai, 71, and former lawmaker and barrister Margaret Ng, 72.
Hong Kong's Apple Daily newspaper said Jimmy Lai, the founder of Next Media, was picked up from his home by officers at around 7 am and taken to a police station in the Kowloon neighbourhood.
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