The former chief economist of Bank of Communications spoke out about his forced resignation, describing a new wave of censorship and discrimination against Hong Kongers.
Law Ka-chung, born and raised in Hong Kong, stepped down from his senior role as chief economist in October after a 14-year career with Bank of Communications, China’s fifth-largest bank, and no explanation accompanying his exit.
«They don’t think it’s appropriate for a Hong Kong guy to speak on behalf of a Chinese bank,» Law said in a «Financial Times» (behind paywall) report, illustrating a perceived purge against the city’s local citizens due to differing views.
Censorship
According to Law, the atmosphere is markedly different now and he had personally been condemned multiple times for merely expressing economic views that were seen as not favorable to China or politically not aligned.
For example, he said management at Bank of Communications expressed discontent about comments made during a local radio interview where he noted that the SARS outbreak in 2003 had a greater economic impact to Hong Kong than the current protests – a view that contradicted the Beijing-backed narrative. Law also said he was reprimanded even for sharing economic news articles with colleagues that were viewed as critical of the government.
«Nowadays they even want to censor the views that you are expressing,» Law said.
No Hong Kongers
Months of protests and a landslide district election victory have branded Hong Kongers, especially the youth, as an anti-government risk and Law believes that mainland Chinese banks are undergoing a broad policy shift to avoid hire local youth.
The report also cited multiple other sources from asset managers, accountancies and law firms which have also actively avoided hiring Hong Kongers and local youth not only due to real potential risks but to create politically favorable perception.
