Hong Kong extradition bill: Financial Secretary Paul Chan says city economy ‘inevitably affected by protests’ but remains stable

Disruption is inevitable due to civil tensions but government is monitoring economic conditions and preparing for risks, says Chan

Reading Time:3 minutes

Protesters gather at the Victoria Park starting point ahead of the march on Sunday, as a senior Executive Council member insists the Hong Kong economy remains in a stable condition despite unrest. Photo: Edmond So

Published: 4:38pm, 16 Jun 2019Updated: 3:59pm, 19 Jun 2019

Financial Secretary Paul Chan Mo-po has said the recent tense social atmosphere had inevitably affected some aspects of the economy and livelihood, even though Hong Kong’s economic and financial markets were still operating in a “stable and orderly manner”.

Chan’s remarks on Sunday came as one of Chief Executive Carrie Lam Cheng Yuet-ngor’s advisers, Regina Ip Lau Suk-yee, said the city leader should apologise to Hongkongers for the controversy and damage the bill had caused. In a statement issued at 8.30pm on Sunday, Lam apologised, admitting there had been deficiencies in the government’s work.

The amendment bill, if passed, would allow the transfer of fugitives to jurisdictions with which the city lacks an extradition deal, including mainland China, where critics said there was a lack of guarantees for fair trials.

Lam announced on Saturday she would suspend the bill, but not withdraw it altogether or apologise for the serious conflict caused by her government’s campaign to force it through the legislature.

Financial Secretary Paul Chan says the Hong Kong economy is in good health, although he conceded the protests would inevitably have an impact. Photo: Winson Wong

On Wednesday, tens of thousands of protesters blocked streets around the Legislative Council complex, bringing parts of the city to a standstill.