Photo taken on Aug. 18, 2019 shows the interior view of the Harbour City in Hong Kong, south China. (Xinhua/Lu Hanxin)
From chain stores to small and medium-sized enterprises, Hong Kong's retail sector bore the major brunt of the social unrest as 97 percent of retailers had suffered losses from June, the survey showed. More and more retailers have begun to ask staff to go on unpaid leave, cut down the number of persons employed, or closed stores.
HONG KONG, Dec. 9 (Xinhua) -- A private survey showed Monday that 97 percent of retailers in Hong Kong registered losses during the past months starting from June, and about 7,000 retailers will likely shut down in six months due to the impact of the prolonged social unrest.
The Hong Kong Retail Management Association (HKRMA) said in its survey from Oct. 29 to Nov. 22 that, 11 percent of the respondents plan to stop operation during the next six months based on Hong Kong's situation, and the estimated closures of retailers across Hong Kong will reach 7,000.
About 30 percent of surveyed retailers said they will reduce 10 percent of the staff if the environment does not improve or there are not enough relief measures, the HKRMA said, predicting more than 5,600 workers will be laid off.
Photo taken on Aug. 20, 2019 shows an indoor view of Hangzhou Restaurant in Hong Kong, south China. (Xinhua/Qin Qing)
From chain stores to small and medium-sized enterprises, Hong Kong's retail sector bore the major brunt of the social unrest as 97 percent of retailers had suffered losses from June, the survey showed. More and more retailers have begun to ask staff to go on unpaid leave, cut down the number of persons employed, or closed stores.
HKRMA chairwoman Annie Yau Tse called on the Hong Kong Special Administrative Region government to implement its relief measures as soon as possible and hoped that landlords will take efforts to help retailers weather out the hardship. ■
