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Hong Kong's billionaires call for the restoration of order

Swire Pacific ( SWRAY ) one of Hong Kong's richest family business empires, made a meaningful statement on Tuesday. The company condemned "illegal activities and violent behavior" and threw its support behind the Hong Kong beleagured government.

"Swire Pacific is deeply concerned about the continuing violence and disruption in Hong Kong," said a statement in which the company offers its full support to Hong Kong's general manager Carrie Lam and the police.

The company's CEO is billionaire Merlin Swire.The family empire has existed for more than 200 years and has been rooted in Hong Kong for many years, with luxury hotels, office towers and high-quality shopping malls in the city.
Swire is also the largest shareholder of Cathay Pacific [1
94559002] CPCAY )
Hong Kong's flagship airline, which has become a known victim of the turmoil, Swire said it fully supports the "strict." Implementation of "new restrictions on the airline issued by the Chinese Aviation Authority over the weekend.

Hundreds of protesters crowded into Hong Kong International Airport disrupting the flight for the second year in a row.

Over the past two days, more than 270 flights have been canceled and the airline's shares have fallen by nearly 14% this month [19659009]

Real Estate Magnate: Time to "Think"

Sun Hung Kai Properties, which is controlled by Asia's third largest family, the Kwoks, also called on protesters on Tuesday to stop the violence. The real estate developer called for the restoration of social order and spoke out in favor of the Hong Kong and Lam governments.
Real estate tycoon Peter Woo, former chairman of developer Wheelock & Co., also urged the demonstrators to relax, saying they had already gained a head start as the government passed a controversial extradition law originally triggered the protests.

"It's time to think about it," Woo said in a statement on Monday. "The rejection of the extradition law was the" big tree "of this movement, but this big appeal was accepted by the government on July 9. So the tree has already fallen." Some people use the problem to "intentionally cause trouble," he added.

Hong Kong has some of the most expensive real estate on the planet, but the protests are now threatening its economy. City officials have warned that the disruption could have a more lasting impact than the outbreak of the deadly SARS virus in 2003, which curtailed the lucrative tourism trade. Among other things, the real estate industry could suffer a severe blow.

Why Hong Kong Is Protesting

Hong Kong's protest movement began in earnest in June. The trigger was the extradition law, which many feared could be used by Peking to suppress dissent.

Since then, the demonstrations have expanded into something bigger. The protesters are calling for more democracy and an investigation of alleged police brutality. The protest movement, which enters the 11th week, has witnessed numerous clashes between protesters and police.

Laura He contributed to this report.

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