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#YellowEconomicCircle #黃色經濟圈

The article is part of the 'Hong Kong Anti-extradition Demonstrations: One Year Ago Today' initiative which aims to raise awareness for the movement and also to debunk some myths regarding the movement’s origins and core elements.


This article forms part of the five-part investigation conducted around the ‘yellow economic circle’. For more information regarding the movement’s origins, impacts, sustainability and debates over its economic versus political classification, please refer to the links below.

INSIGHT articles:

OPINION articles


One year ago today, people took to the streets en masse to protest against the Extradition Bill proposed by the Hong Kong Government. Public discontent increased and violence continued to escalate as summer progressed. It wasn’t until the new year when the global pandemic forced everyone to retreat behind closed doors did the police-protest conflicts cease on the streets. Whilst the bill was officially withdrawn in October last year, anti-sentiment continued to surge high amongst the Hong Kong people as remnants of the demonstrations remain embossed into the city’s infrastructure and significantly transformed the way of life in Hong Kong. From social attitudes to behaviours, one of the more noticeable changes that surfaced as a result of the anti-extradition demonstrations was its submovement; the ‘yellow economic circle’.

‘Economic circles’ are far from novel. However, the discourse generated as a result of its proliferation within Hong Kong’s socio-political climate proffers a prime opportunity to not only analyse the city’s socio-economic climate but also contextualise the waves of anti-government sentiment felt in the past year.

Often associated with anti-government and pro-democracy rhetoric, the ‘yellow economic circle’ phenomenon has had its social profile strengthened following accusations for its alleged non-pecuniary activities and long-term corruption of Hong Kong’s economy and socio-political climate. Despite counter-narratives that deviate from its apparent economic-rhetoric, a compelling argument can be made for the ‘yellow economic circle’ as a social movement; a social movement that utilises economic means to achieve political ends.

What is the ‘Yellow Economic Circle’?

Image Source: AP Photos

In brief, the ‘yellow economic circle’ refers to an ‘economic circle’ formed by the supporters of the anti-extradition demonstrations which began to show its visibility in June last year. Whilst many have taken to using the terms ‘anti-extradition demonstrations’ and ‘anti-government protests’ interchangeably, this rhetoric will not be employed in this initial analysis.

(Read more on opposing arguments for the ‘yellow economic circle’ being an apparent economic movement driven by fundamentally political aims in 'PART ONE: the economic debate' in the INSIGHT article 'The ‘yellow economic circle’: Inhibitor of social change, recipe for economic self-sufficiency or a driver of political chaos?')

Shops and enterprises are distinguished by their political stance: ‘yellow shops’ refer to those which support the demonstrations, ‘blue shops’ refer to those which support the Hong Kong police and oppose the demonstrations, and ‘red shops’ refer to those who identify as supporters of the Central Government.

A collection of ‘yellow shops’ represents the ‘yellow economic circle,’ and the system functions over a system of patronisation as part of consumerism. It is further assumed that ‘consumption behaviours are based solely on the principle of self-interest’ and supporters of the demonstrations are therefore likely to patronise shops and enterprises that also identify as ‘yellow’ and are likely to avoid those that identify as ‘blue’ or ‘red.’

Origins and ‘proliferation’: Anti-extradition Demonstrations 2019

Image Source: AP Photos

The ‘yellow economic circle’ was not an initiative formed spontaneously overnight but represents accumulated efforts and support of various individuals throughout the anti-extradition demonstrations in 2019. Its proliferation owes credit to the citizens of Hong Kong; those actively involved in the demonstrations and those supporting using more passive means. Due to the latter’s unnerving support of the cause, it has allowed for a synergy of ideals, values and motivations into a series of submovements. The current ‘yellow economic circle’ is an example of a movement formed by the people of Hong Kong, for the people of Hong Kong.

Since the beginning of the anti-extradition demonstrations, various shops and enterprises have supported the demonstrations through donations of food coupons, importing protection gear for demonstrators who weren’t able to afford it and facilitation of late-night courier services for demonstrators to return home. Various middle class and business sectors had also helped the demonstrators financially by donating to the 612 Fund and the Spark Alliance to provide legal, medical and other aids to those injured or arrested.

Furthermore, as public sentiment shifted and support for the demonstrations became more wide-spread, what was previously a loose conglomerate of support began to group together resources and agencies, unified in their explicit support for the anti-extradition movement. On June 12, when the Hong Kong Legislative Council was due to deliberate on the now-withdrawn Extradition Bill, more than a hundred small and medium-sized companies closed their businesses so that their employees could attend the demonstration. Similarly, during the citywide general strike on August 5th (香港三罷行動), additional hundreds of small business owners as well as trade unions, including various airline’s Flight Attendants Unions, went on strike and backed the movement.

To reciprocate their expression of goodwill and support, demonstrators began to call supportive businesses as ‘yellow shops’. Recognised for their political stance, demonstrators began to encourage public citizens to support the ‘yellow shops’ and their businesses through methods of patronisation whilst boycotting and avoiding ‘blue’ and ‘red’ shops. Initiated within the demonstrators themselves, the concept of ‘coloured shops’ and ‘economic circle’ is essentially an exchange of pecuniary entities as a show of mutual support between demonstrators and supporters of the demonstrations.

During the initial phase of anti-extradition demonstrations, what started as an individual's personal ‘hit-list’ became a publicly shared excel sheet across social media. It was later proposed amongst netizens for the construction of a map to help people identify shops that were ‘yellow’ and those that were ‘blue.’ As more and more shops were added to these lists, mobile applications such as ‘和你eat’ and ‘WhatsGap’ were developed to help people visualise the spread. The visualisation of these ‘coloured shops’ through digital guides and maps helped the movement gain its momentum.

Gradually as people began to externalise their support for the anti-extradition movement, the ‘yellow economic circle’ has witnessed a significant expansion in terms of the actors involved. Its foundations in providing mutual support through exchanges in patronisation have consolidated the movement into what is currently known as the ‘yellow economy.’ The social movement continues in Hong Kong today and has proliferated itself into a force to be reckoned with, the direct implications of the ‘yellow effect’ reflect this.

(Read more about the impact of the ‘yellow economic circles’ and it's associated implications in the INSIGHT article, “The ‘Yellow Effect’ - Increased sales in ‘yellow shops’ and decline in support and retail in ‘blue shops’: how successful has the ‘yellow economic circle’ been in achieving its aims?”)


Editors' Note: As a blanket disclaimer for the entire ‘Hong Kong Anti-Extradition Demonstrations: One Year Ago Today’ initiative, we will not be disclosing the identities of any of the contributors to the initiative. We thank everyone who has submitted a piece of their own work and we apologise for not being able to openly accredit you for your contributions.