For immediate release
HONG KONG, 28 July 2014 – Members of the Hong Kong business community that comprise local Business Chambers wish to express their concerns about the Occupy Central demonstrations and urge citizens to understand and take into account the potential adverse impact on Hong Kong on a number of levels, from safety, traffic congestion and disruption to local businesses, to far wider repercussions on Hong Kong’s reputation in the international community.
Mr. Y. K. Pang, Chairman of Hong Kong General Chamber of Commerce, said, “Our fundamental concern is the potential for disruption that may result from the Occupy Central demonstrations. It is not our intention today to comment on the proposed electoral reforms or to influence the debate on universal suffrage, and we respect every Hong Kong citizen’s right to express their views and opinions. We urge the organisers to pursue other, more constructive channels to further their cause rather than to engage in demonstrations which could be quite damaging to everyone in Hong Kong.”
The members of the Business Chambers noted that, in addition to potential safety issues which are always a concern with any large gathering of demonstrators, the demonstrations will cause traffic gridlock in and around the Central Business District which would not only impact office-goers during their daily work commute, but also small, local business owners who depend on walk-in customers, the elderly who rely on transportation to day care centers, individuals who require medical assistance and the territory’s ambulance, fire brigade and other emergency services. Any gridlock in Central can soon spread to the rest of Hong Kong and cause disruptions everywhere.
Mr. Stanley Lau, Chairman of Federation of Hong Kong Industries, said, “Occupy Central may gravely affect retail businesses in Hong Kong. Employees will be subject to travel disruptions, which will likely increase their commute and may lead to lateness; as such, retail businesses will be forced to shorten their operating hours to accommodate for these disruptions. Furthermore, tourists are likely to avoid areas affected by the demonstrations, reducing foot traffic, leading to a loss of potential sales.”
According to data from the Census and Statistics Department, consumer spending in Hong Kong decreased to HK$343,962 Million in the first quarter of 2014 from HK$359,900 Million in the fourth quarter of 2013. While second quarter data is yet to be published, the additional pressure of the Occupy Central movement will likely have a significant negative impact on third quarter consumer spending and the earnings and livelihood of Hong Kong citizen working in the retail sector.
Mr. Stewart Leung, Chairman of The Real Estate Developers Association of Hong Kong Executive Committee, added, “Occupy Central will not just affect businesses operating in Central, it will have grave impact on the entire economy and people’s livelihoods as Hong Kong’s hard-earned reputation of an investment destination of choice will be tarnished. This is just too great a risk that we cannot afford to ignore.
Dr. Charles Yeung, Chairman of The Chinese General Chamber of Commerce, does not agree with participating in the Occupy Central movement to gain appeal. He said, "The Occupy Central movement will not only be an impractical way for all parties to communicate, but will also negatively impact the economy and business environment of Hong Kong, as well as the livelihood of our citizens. The movement will be detrimental to the overall development of Hong Kong, and I hope that Occupy Central participants will not disregard others’ opinions to act out on their own." Dr. Yeung hopes that the community will set aside their prejudices to adopt a peaceful, rational and practical attitude, to join forces and help Hong Kong strive for the better.
The members of the Business Chambers commented that social unrest and political instability created by Occupy Central will deter foreign enterprises from investing in Hong Kong, potentially causing a tremendous ripple effect throughout the local economy, impacting the expansion plans of local businesses and reducing employment opportunities.
Mr. Jimmy Ng, Vice President of the Chinese Manufacturers’ Association of Hong Kong, said, “To those who are organizing and planning to participate in Occupy Central, we urge careful and considered thought around the potential implications of your actions, and ask that you refrain from participating in any demonstrations, for the good of Hong Kong’s future as a thriving international business community.”
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About Hong Kong General Chamber of Commerce
Founded in 1861, the Hong Kong General Chamber of Commerce is the oldest, yet most dynamic business organisation in Hong Kong. Our members represent a wide spectrum of local, Mainland Chinese and international businesses. More than half of the flagship corporations listed on the Hang Seng Index are our members. Combined, our membership, from renowned multinationals to thriving SMEs, employ around one third of the local workforce. The Chamber serves as the voice of business, and we help our members succeed through our core functions: advocacy, knowledge-based events, networking, and a variety of business documentation services.
About The Chinese General Chamber of Commerce
The Chinese General Chamber of Commerce is a non-profit-making organization of local Chinese firms and businessmen. Founded in 1900, it is one of the oldest and largest chambers of commerce in Hong Kong. At present, the Chamber has a membership of over 6,000, comprising association, company and individual members. Ever since its establishment, the Chamber aims at serving the community and advancing with time. It provides the business community a forum for the exchange of business information and an avenue for fostering regional and international communication and promoting trade and commerce.
About The Chinese Manufacturers' Association of Hong Kong
Established in 1934, the Chinese Manufacturers' Association of Hong Kong (CMA) is a non-profit-making chamber of commerce and one of the most representative industrial associations in Hong Kong. With over 3,000 member companies from various sectors of industry and trade, the CMA is committed to serving the community and safeguarding public interest. The CMA's activities and services are directed at the well-being of Hong Kong as a whole, and it places equal emphasis on fostering international understanding and co-operation.
AboutFederation of Hong Kong Industries
The Federation of Hong Kong Industries is a business organisation to represent and serve the interests of Hong Kong’s manufacturing industries. Established in 1960, the objectives of Federation of Hong Kong Industries are to promote and foster the interests of Hong Kong's industrial and business communities, to promote the business opportunities in Hong Kong, to represent the industries’ views and advise the government on policies and legislation which affect business.
AboutThe Real Estate Developers Association of Hong Kong
The Real Estate Developers Association of Hong Kong (REDA) was founded in 1965. It is one of the 5 largest trade associations in Hong Kong. Since its inception, REDA has been the only one organization in Hong Kong representing the property development sector. REDA’s primary objectives are to facilitate the healthy development of the property development sector in Hong Kong, and to reflect the views of the industry to the Government on all matters related to policies and laws/regulations regarding housing, planning, lands and construction. REDA acts as a bridge for communication between the government, the property sector and the general public.
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