Edward Yau says 'yellow' economy tactics can't last - RTHK
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Edward Yau says 'yellow' economy tactics can't last

2019-12-17 HKT 22:22
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  • The Commerce and Economic Development Secretary, Edward Yau, says Hong Kong's competitiveness lies in its free and open economy. File photo: RTHK
    The Commerce and Economic Development Secretary, Edward Yau, says Hong Kong's competitiveness lies in its free and open economy. File photo: RTHK
The Commerce and Economic Development Secretary, Edward Yau, on Tuesday spoke out against a trend for some people to boycott businesses seen as pro-China or pro-government and spend their money only at shops that support the protest movement - a practice known as buycotting.

The so-called "yellow economy" has emerged in the recent months - with people who support the democracy protests choosing to only spend their money in pro-democracy shops and eateries as a way to make their voice heard and to support those businesses during an economic downturn.

But Yau said he cannot see how this trend can last.

He said no economy can draw a line to decide who it wants to include or exclude.

Yau made the remarks when he was responding to netizens' questions on a livestream session on social media.

He stressed that the competitiveness of Hong Kong lay in its free and open economy.

Companies that have voiced support for the protest movement are classed as "yellow", while "blue" businesses are seen as pro-China or pro-government.

Anti-extradition bill protesters have also pressed advertisers to pull commercials from the city's biggest free-to-air broadcaster TVB, which critics say has sided with the government and run biased reports on recent protests.

Several companies have already said they will stop placing ads on TVB due to public concerns over the station's editorial decisions, although some of these brands have come under pressure from their mainland franchises which are worried that the decisions taken in Hong Kong will affect businesses across the border.