Hong Kong protests News

The Impact of Political Risks on Businesses

Civil unrest incidents such as protests and riots are challenging terrorism as the main political risk exposure for companies. Recently, events such as the French “yellow vest” protests (insured losses around $90 million), as well as unrest in Chile (around …

Could Hong Kong’s Role as Global Financial Hub Be Jeopardized by China Security Law?

China’s parliament approved a decision on Thursday to go forward with national security legislation for Hong Kong that democracy activists in the city and Western countries fear could erode its freedoms and jeopardize its role as a global financial hub. …

Hong Kong Financial Firms Fear Potential Beijing Interference in Contracts

When China’s top legislature criticized a Hong Kong court’s rejection of a face mask ban there, some global firms began to fear the potential for mainland interference in commercial contracts, lawyers and finance executives said. Hong Kong’s vaunted rule of …

Hong Kong Insurance Sales to Mainland Chinese Clients Drop 18% on Escalating Protests

Insurance sales in Hong Kong to mainland Chinese customers declined in the third quarter as escalating protests halted visits to the financial hub. Their purchases of insurance and related investment policies declined 18% to HK$9.7 billion ($1.2 billion) from a …

Hong Kong Financial Services Firms Concerned for Staff Safety as Protests Escalate

Finance firms in Hong Kong urged staff on Wednesday to seek safety or work from home as anti-government protests paralyzed the city’s business district for a third day in one of the biggest disruptions faced by the Asian finance hub. …

Hong Kong Falls into Recession, Hit by 5 Months of Protests

Hong Kong has fallen into recession, hit by five months of anti-government protests that erupted in flames at the weekend, and is unlikely to achieve any growth this year, the city’s Financial Secretary said. Black-clad and masked demonstrators set fire …

Few Hong Kong Firms Have Riot Insurance so They’ll Be Paying for Protest Damages

Hong Kong’s businesses will likely foot the bill for vandalism inflicted over the past four months during the territory’s most violent protests in living memory as few of them bought insurance coverage for riot damage, industry insiders said. Businesses big …

Hong Kong Protests Escalate as Police Fire Weapon, Use Water Cannons

Tensions flared in Hong Kong on a weekend that began with the formation of a peaceful human chain across the city and culminated two days later with police firing a weapon and using water cannons for the first time. In …

Hong Kong Plunging into ‘Panic and Chaos,’ Says Leader, as Protests Continue

Flights leaving Hong Kong were disrupted for a second day on Tuesday, plunging the former British colony deeper into turmoil as its stockmarket fell to a seven-month low, and its leader said it had been pushed into a state of …

Hong Kong Protestors Move to Shut Down Financial Hub with General Strike

Hong Kong leader Carrie Lam warned of a “very dangerous situation” as protesters moved to shut down the Asian financial hub with a general strike on Monday after a ninth straight weekend of unrest in opposition to China’s tightening grip. …