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Business daily

Hong Kong faces first recession in decades after months of protests

By: Yuka ROYER
7 min

As Hong Kong faces its first recession since the 2008 financial crisis, the city's embattled leader Carrie Lam says she will focus on housing and land issues as she prepares for a key annual policy address before the Legislative Council. Months of protests have hit Hong Kong's economy hard, particularly in the tourism and retail sectors. Plus, Facebook put on a brave face as it officially launched its digital currency project Libra in Geneva. The meeting came amid an exodus of partners who have abandoned the scheme over regulatory concerns. 

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