Hong Kong official warns city's economy faces tough times

Anti-extradition bill protesters set up barriers during a march at Tai Po residential area in Hong Kong, China August 10, 2019. REUTERS/Tyrone Siu

HONG KONG: Hong Kong Financial Secretary Paul Chan has warned the Asian financial hub is entering "a very difficult economic environment” as trade declines and growth slows.

"Industries like retail, catering and transportation have taken a hit because of the recent violent unrest, with significant revenue drops,” Chan wrote in his official blog on Sunday. "The depressed feeling in society is affecting consumer industries to different degrees.”