Financial groups against Occupy Central movement

Eight large financial organizations in Hong Kong has published a joint statement that opposes the Occupy Central pro-democracy movement, stating that the protest will harm the city’s reputation as a global financial hub.

Published in three Chinese-language newspapers on April 28^th 2014, the full-sized advertisement followed on from a similar incident last week, where a group of 70 banking and financial workers issued an open letter to President Xi Jin Ping demanding universal suffrage and democracy for Hong Kong, with some pledging to join the “Occupy Central” movement if their request was not granted.

“Some people claimed they support the Occupy Central movement on behalf of the financial sector, we cannot agree with that. [The protest] would bring harm to Hong Kong … jeopardising the city’s status as an international financial centre,”, the statement wrote.

“Companies which plan to invest in Hong Kong have considered shifting their businesses to Singapore and Shanghai,” said the statement, which was published in Oriental Daily, Wen Wei Po and Hong Kong Economic Times. In total, the eight groups represent around 20,000 traders and workers in the city.