Retail and tourism faces hard grind in the short-term

Business | 21 Jan 2020 8:14 pm

Hang Lung Properties, Chairman Ronnie Chan Chi-chung, believes it is difficult for the retail and tourism industries to recover in the short term.

“Two weeks ago, a group of mainland high-tech investors came to Hong Kong to hold a seminar. When two female secretaries walked from one hotel to another -- a 200-meter path -- they were heard talking in mandarin. They ran into black-clad protesters and were threatened. They were so scared that they immediately went back to the hotel.

"There are an awful lot of such cases.''

"Are they Hongkongers?" he asked. "Hong Kong people should be good at doing business. It can't be helped, if others put money in your pocket and you beat them back. 

"There are things that are beyond the government's capabilities. I know some of them went to the mainland to promote recently. However, you need to make sure mainlanders will not be threatened if they come to Hong Kong. Can the government guarantee that? The government can't.

"Does the rule of law hold in Hong Kong? If you do not act in accordance with law, that would indulge the thugs."

Chief executive Weber Lo Wai-pak, said the company has helped more than 70 percent of tenants through measures such as rent reductions, depending on the operational environment, location and  business categories.

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