Street protests and clashes with police have engulfed Hong Kong for approximately two months.

The ongoing massive demonstrations in the financial center have led to disruptions in the local economy, according to authorities.

Protesters have managed to halt commuter trains during peak hours on Tuesday. The protests have caused disturbances in shopping areas, the airport, and various public locations throughout the city. The unrest is not limited to Hong Kong Island but has spread to the Kowloon peninsula and other regions of the territory as well. Confrontations with law enforcement have occurred in the central business district of Hong Kong, home to major global banks such as HSBC. The protesters have been chased through the bustling city streets, impacting local businesses. Paul Chan, the finance secretary of Hong Kong, mentioned in a blog post, “Many retail and dining establishments have reported a significant decrease in business. The perception of Hong Kong has shifted to one of turmoil and insecurity for foreign companies and tourists, affecting their inclination to travel, conduct business, and invest in Hong Kong.”

The initial protests were sparked by a controversial extradition bill that sought to allow Hong Kong residents to be sent to Mainland China. Demonstrators fear that the bill could be exploited to extradite pro-democracy activists in Hong Kong to the mainland, where they may not enjoy the same freedom of expression protections as in Hong Kong. Subsequently, the protests have evolved into a broader movement advocating for democratic reforms. Hong Kong is a self-ruling territory within China, known as the Hong Kong Special Administrative Region (SAR). Despite being a part of China, Hong Kong maintains its own currency and passport. As outlined in the 1997 Sino-British Joint Declaration, Hong Kong is set to be fully integrated into Mainland China by 2047, while retaining its distinct legal system and way of life under the “one country, two systems” principle.