HK's economic future linked with mainland

The three months of demonstrations, frequently marked by violence, in Hong Kong have dealt a serious blow to its economy, especially the tourism and retail sectors. Latest statistics show the number of tourists visiting Hong Kong in August reduced by about 2.4 million, a decline of nearly 40 percent year-on-year, and caused an economic loss of about 12 billion yuan ($1.69 billion).

Other sectors, too, have suffered damage. For instance, some logistics companies' turnover has declined 50 percent in recent months. And in the first half of August, the passenger and freight volumes of Hong Kong International Airport declined 11 percent and 14 percent year-on-year.

Logistics, finance, tourism, retail and special services are pillar industries of the Hong Kong Special Administrative Region. The trade and logistics sectors account for 21 percent of Hong Kong's GDP and employ about 25 percent of its workforce. The SAR's gross domestic product has been declining since the US launched a trade war against China, and the demonstrations have further worsened the situation. Many even fear the SAR's economy could step into technical recession.