Hong Kong SAR government pledged four billion HK dollars, or about 511 million U.S. dollars, in aid to support businesses in the city on December 4. The government said that months of protests have eroded business confidence in the Asian financial hub. Business activity in Hong Kong contracted at its fastest pace in 21 years in November. The seasonally adjusted PMI fell to 38.5 in the month, down from 39.3 in October. Hong Kong's finance chief Paul Chan said that the government aid was expected to shore up the city's economy.