Violent protests are a blot on Hong Kong’s reputation as a stable business hub, says Hopewell’s Gordon Wu

Violent protests will harm Hong Kong’s image as a solid business hub, as investors are worried that the city could descend into anarchy and mob rule, said Gordon Wu Ying-sheung, chairman of Hopewell Holdings, one of the first businessmen to condemn the protesters who stormed and vandalised the Legislative Council.

“The violent protests are definitely not good for the city’s business environment,” Wu, 83, told the media on Wednesday. He added that if the law and order situation continues to deteriorate in the city, then businesses will not invest in the city.

Tai Hui, chief market strategist for Asia at JPMorgan Asset Management, echoed the sentiment.

“There is a sense of anxiety and worry, and it is natural for companies to hold back a little bit,” Hui said.

On Monday, hundreds of mainly young and masked protesters used makeshift weapons, including a metal cart, bars and panels to break into the Legislative Council building. They also barricaded key roads in Admiralty and Wan Chai and attacked police with what was suspected to be drain cleaner and caustic soda, and also threw eggs and bottles at them.

“They should be condemned,” said Wu at an event organised by the American Chamber of Commerce on the future of the Greater Bay Area.