Hong Kong leader Carrie Lam Cheng Yuet-ngor announced on Friday the Executive Council — the de facto cabinet of Hong Kong's chief executive — which was originally scheduled to be resumed on Aug 27 will take up business on Tuesday, as Asia's financial center is bracing for an "economic tsunami" never seen before.

Lam warned the city is feeling the pinch from the escalating Sino-US trade disputes and more than two months of anti-extradition bill protests, and facing a situation that could be worse than the 2003 SARS epidemic and the 2008 global financial crisis.

Flanked by nine ministers and business heavyweights at a press conference after concluding a meeting with 33 representatives from hard-pressed sectors on Friday, Lam said the government's overarching goal is to put an end to violent clashes, restore social order and safeguard the city's rule of law.

A package of stimulus measures will be introduced to support employment and lend a helping hand to the city's suffering companies in the upcoming Policy Address in October, Lam said.

"Hong Kong cannot be left to suffer. This is the consensus I have reached with 33 representatives from the business community at the meeting," Lam said.