Hong Kong official warns protests are hurting economy
Tear gas fired as territory hit by third consecutive day of mass demonstrations
Asenior Hong Kong government official has warned that mass demonstrations in the city over the past two months are taking their toll on its economy, as the Asian financial hub was hit by a third consecutive day of protests on Sunday.
Riot police on Sunday fired tear gas at protesters near Beijing’s main representative office in the city, a day after they engaged in some of the fiercest clashes yet seen in Hong Kong’s current political crisis in an outlying district of the territory.
Late into the night, police were pursuing protesters around the edge of Hong Kong’s financial district, home to global banks such as HSBC. The demonstrators responded by lighting fires and throwing objects. Some of the protesters were chased through streets crammed with expensive bars and restaurants, as shocked diners and tourists looked on.
Earlier, Paul Chan, Hong Kong’s finance secretary, wrote
in a blog post: “Many retail and catering operators have said that their recent business volume has dropped sharply.
“For foreign companies and tourists, Hong Kong seems to have become turbulent and insecure, affecting their desire to travel, do business and invest in Hong Kong.”
The protests, sparked by an extradition bill that would allow suspects to be sent to China for trial, have precipitated the territory’s worst political crisis since its handover from the UK to China in 1997.
While the government initially backed down by putting the extradition bill on hold, pro-democracy groups have criticised authorities for not agreeing to any further demands such as for an independent inquiry into police conduct.
They come at a sensitive moment for Hong Kong’s economy. The territory, a financial and services centre, is grappling with the fallout from Beijing’s trade war with Washington as well as an economic slowdown in mainland China, which grew at its slowest pace in almost three decades in the second quarter.