Unrest has 'detrimental effect' on HK economy

The central government and all walks of life in Hong Kong are worried that social unrest in the city is starting to take its toll on its economy.

Yang Guang, a spokesman for the Hong Kong and Macao Affairs Office of the State Council, said violent clashes between the police and protesters have affected the city's economy, harming tourism and retail sales.

"The political protests began in June and have had a detrimental effect on Hong Kong's economy and even dampened overseas investors' confidence in Hong Kong," Yang said at a news conference on Tuesday.