London Daily

Focus on the big picture.
Wednesday, Oct 22, 2025

Hong Kong Economist Says His Views on China Cost Him His Job

Hong Kong Economist Says His Views on China Cost Him His Job

A local Hong Kong economist said he was asked to leave his job at a mainland Chinese-owned bank, in the latest example of political tensions erupting in the financial hub after months of protests.
Law Ka Chung left his role as chief economist at Bank of Communications (Hong Kong) in October, with no official announcement. The analyst said he suspects his views are the reason he was asked to leave after more than 14 years.

The former chief economist in an article in August said protests in Hong Kong would deepen the city’s slowdown but argued their impact was limited, contradicting the dire outlook in China’s mainland media. He said he was asked to leave the bank shortly after he shared with colleagues a link to an outside article critical of China’s firewalls and closed system. He was also asked to refrain from commenting on the Chinese economy, he said.

“China just needs people to stay low profile and be quiet,” Law said in an interview on Tuesday. “They just want to silence all voices, be it researchers, students or media.”

The departure risks stoking speculation that Hong Kong could lose its status as a relatively independent financial center outside of China. Pro-democracy protests have rocked Hong Kong for almost six months, stirring tension across workplaces in the former British colony, with bankers often caught in the midst. Chinese-owned banks and shops have been targeted by angry protesters. Local citizens and those who emigrated from mainland China often clash online and in real life.

Law said he has felt pressure since as early as 2014, when the so-called Umbrella Movement started. Friends and other analysts are now indicating that pressure to keep comments guarded is spreading to local and foreign banks as well, he said.

Law said the bank outlined his compensation stretching into next year just two months before he was asked to resign. He left behind him a team of mainly local Hong Kongers.

“I have little contact with them after I left,” he said. “I wish them good luck.”

The turmoil has plunged Hong Kong into a recession, in part as a dearth of mainland visitors has choked off retail sales. Expat bankers and even those born in the city have explored options of leaving the city while residents from mainland China have grown more fearful.

With employees entangled or caught up in the turmoil, banks including HSBC Holdings Plc have called for a peaceful resolution. One Mandarin Chinese speaking JPMorgan Chase & Co. employee was punched in the face and a Citigroup Inc. banker was briefly detained after a scuffle with police. A BNP Paribas SA executive left his job to focus on his activism for Hong Kong.

But even before protests broke out citywide, the fear of offending China have made some of the Wall Street banks bow. UBS Group AG put its top economist Paul Donovan on temporary leave earlier this year after a reference in his research to “Chinese pigs” caused an avalanche of criticism in China.
Newsletter

Related Articles

0:00
0:00
Close
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
×