Unrest may deter foreign investors: Paul Chan

Unrest may deter foreign investors: Paul Chan

The Financial Secretary, Paul Chan, has expressed concern that foreign investors will lose patience with the months of civil unrest in Hong Kong, and choose to expand their business elsewhere.



Writing on his blog on Sunday, Chan welcomed the news that China and the US have reached an interim trade deal.



However, he warned that it's not clear whether the global economy will see rapid growth in the coming year - because the Sino-US relationship is volatile.



He said some industries in Hong Kong have been hard-hit by the civil unrest over the past six months.



And Chan warned that they may pick other cities over Hong Kong - if the protests continue - so they can take advantage of any pick up in the global economy.



The government has moved to soften the impact of protests which have pushed the SAR's economy into recession.



Earlier this month, the government announced a HK$4 billion relief package which officials said would help tens of thousands of businesses cope. The package, which was announced by Chan, included waivers for water and sewage fees as well as a higher waiver for government rates.



In October, the government also announced a HK$2 billion relief package for the transport, retail, and catering industries, which all say they've been hard hit by the protests.