A number of experts and scholars have suggested that the Occupy Central movement will undermine the economy in Hong Kong. If the movement continues, it will do harm to HK's international image and could have a severe impact on HK's economic development.

Ni Wai, a doctor from the Research Center for Hong Kong and Macau Affairs in Shanghai Academy of Social Sciences, observed that political activities would affect the psychological process of stability in economic development. "Occupy Central" might affect investors' attitude to economic development in Hong Kong.

If the movement continues, it could have a negative impact on social stability and on Hong Kong's image as an international financial center, Ni added.

According to Ni, an international financial center depends on a degree of economic freedom, social stability, and economic efficiency. These elements could be both affected by and damaged by "Occupy Central". The attitudes of the international community could also be influenced. Investors place a high value on the secourity of their capital. Wherever there is social turmoil, investors are likely to feel reluctant to invest in that area, explained Ni.

Zhu Jianfang, chief economist of CITIC Securities Co., Ltd. (CITICS), said that the movement is doing no good to the Hong Kong economy. The retail industry and business trade have been its first victims. The damage is more obvious in Central as it is the core of Hong Kong. Zhu urged that the movement should put an end to its activities as soon as possible in order to give Hong Kong a stable environment for development

Ding Zhijie, Dean of the School of Banking and Finance of University of International Business and Economics, said that the impact of the movement on the financial industry is beginning to make itself felt. If allowed to continue, the impact might be serious. The movement might cause capital outflow and damage Hong Kong's long-term future as Asia's financial center.

The article is edited and translated from《专家学者表示“占中”有损香港国际形象》, source: People's Daily, author: Wu Yaming