Yellow economic circle

The yellow economic circle, also known as the yellow economy, was a form of consumer activism in Hong Kong, in which businesses are classified based on their support or opposition to the 2019–2020 protests in the city. It was created by protesters to enable dollar voting and support like-minded businesses, sustain the livelihoods of pro-democracy business owners, create job opportunities for supporters of the movement, and reduce local dependence on businesses that are connected to the Chinese Communist Party. Local political analysts suggested that the yellow economic circle could have increased votes for the pro-democracy camp in the Catering, Wholesale, and Retail functional constituency in the later postponed 2020 legislative election.

The passing of the Hong Kong national security law on 30 June 2020 led to a cooling of the movement, as pro-democracy businesses distanced themselves from the yellow economic circle due to fears of persecution under the new law. As of 2024, the relevance of the yellow economic circle has mostly faded along with the cessation of the pro-democracy movement’s momentum.