HK's financial chief says social issues shake economy

Hong Kong's Financial Secretary John Tsang said on Wednesday that acute social conflicts will add uncertainties to the already adverse economic environment.

When delivering his Budget, Tsang mentioned that the Mong Kok riot happened during the Lunar New Year holiday when a handful of people attacked police officers and reporters, provoking a large-scale riot and causing dozens of injuries.

Tsang said he believe many people shared his feelings toward the incident and he was troubled by the devoured core values that people long cherished.

"Politics and economics are closely intertwined," he said. "Political volatility will unavoidably impact on our economy."