Tue, Aug 14, 2012 - Page 6 News List

HSBC wins its court bid to evict Occupy Hong Kong activists

Reuters, HONG KONG

HSBC won a legal bid yesterday to have members of the Occupy Hong Kong movement evicted from the open-air plaza beneath the bank’s Asian headquarters, bringing an end to one of the longest-running Occupy demonstrations.

The Hong Kong protests, sparked by the Occupy Wall Street movement that targeted US financial policies blamed for the income gap between rich and poor, spanned a period of growing resentment in the territory of 7 million people against perceived cozy ties between the government and big business.

INEQUALITY

The movement’s aim to draw worldwide attention to income inequality also touched a nerve in the former British colony, which has one of the biggest income gaps in Asia and property prices among the highest in the world.

Yesterday’s order came more than nine months after protesters pitched tents in the heart of Hong Kong’s financial district, home to global banks such as Standard Chartered, Goldman Sachs and JP Morgan.

DEFIANT

The protesters, who have been given until Aug. 27 to vacate the site, remained defiant.

“We won’t leave even if they [come] here to remove us and we’ll hold a meeting tomorrow night to discuss how we’ll deal with the eviction,” said Leung Wing Lai, one of the core members of the Occupy Hong Kong movement.

HSBC said it sought legal action after attempts to get the protesters to leave voluntarily failed.

PETERING OUT

The Hong Kong movement attracted students, young professionals, activists, the unemployed and the homeless, as well as victims of the Lehman mini-bond scandal who faced massive losses when the New York-based investment bank filed for bankruptcy in 2008.

The plaza was home to about 100 protesters at the peak of the movement, said spokesperson Tiv Wong, although only about 10 activists remained now.

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