Hong Kong’s economy hit by protests, says Finance Secretary

Counter moves: Chan says the Hong Kong government will consider countermeasures to stabilise the economy. He, however, does not provide details. — Bloomberg

HONG KONG: Social unrest gripping Hong Kong has affected the city’s economy and businesses, and the unemployment rate is likely to rise from current levels, Financial Secretary Paul Chan said in a blog post.

In the Chinese-language post on his website, Chan said many local retail and catering businesses had experienced a “sharp decline” in business, and he warned that the longer the historic protests go on, the more pressure they will pile on small and medium enterprises.