'Foreign Business Say HK Becoming A Riskier Place'

International businesses are feeling pessimistic about the short-term prospects for Hong Kong as escalating violence and political deadlock take their toll on operations and fuel perceptions that the city is becoming a riskier place, a survey by the American Chamber of Commerce has found.

The chamber began surveying its members representing sectors ranging from financial services to logistics and tech last week in light of continued and escalating violence surrounding political protests in Hong Kong to gauge the ongoing impact on business sentiment.

The survey found that businesses are already reporting serious consequences from the disruption caused by weeks of mass demonstrations, political paralysis and outbreaks of violence and destructive acts in a city that has won an enviable reputation as one of the world's safest places.

These range from an immediate hit to revenue caused by disruption to supply chains and consumption, to longer term doubts over cancelled events and shelved investments. Respondents also reported a deepening perception within their companies and among overseas customers that Hong Kong has become less safe and a riskier place in which to conduct business.

The business body said the SAR government should take immediate and tangible actions to address the root causes of recent demonstrations and restore confidence in the city's status as Asia's pre-eminent international business and financial centre.

Its members suggested the Hong Kong government to completely withdraw the extradition bill and carry out an independent inquiry into recent unrest to restore public confidence.

Earlier, the Hong Kong General Chamber of Commerce also called on the government to completely withdraw the bill.