Mad-Dog
You really need to do more research before you start justifying the actions of the company we work for to us.
Regarding the contract, CX has been keeping up with their end correct? If not, I would suggest that they be sued in court. I have done enough business in HK to know they have one of the best legal system in Asia (probably the world) as they follow the British common law system. Be glad you are not in half the countries in Asia where a contract has no meaning.
This has been done many many time, we have won many many times, it has been overturned many many times. The HKG legal system is a joke when it comes to workers taking on companies. Blatant breaches of contract on multiple occasions to multiple people worth multi million dollar amounts.