Protests threaten Hong Kong’s freight status
20 Aug 2019 - by Staff reporter
As protesters continue to resist Beijing’s strengthening grip over the semi-autonomy of Hong Kong, the South Asia city state that was peacefully reincorporated into mainland China in 1997 risks losing its status as one of the world’s most frequented logistics hubs.
According to data released by the Global Financial Centres Index, Hong Kong is the still the world’s 10th largest exporter, the 9th largest importer, and the 7th largest trading entity.
The Hong Kong dollar is also the 13th most traded currency, the Triennial Central Bank Survey has found.
But for a city that relies on sustained cargo traffic to push out impressive GDP figures, the anti-China protests that have rocked its usually peaceful streets are threatening its status as one of the world’s busiest hubs for freight.
This comes after the Hong Kong Association of Freight Forwarding and Logistics (Haffa) said that the protests, which had disrupted flights at the city’s international airport, could also have a longer term disruptive effect.
In a statement released to several freight and trading portals, Haffa said the protests “will undermine Hong Kong’s reputation as an international transportation hub and the world’s busiest cargo airport.
“It will have far-reaching impact on Hong Kong and have a serious, adverse effect on the economy as a whole.”