Just had lunch with a lawyer mate discussing how he would spend his 24% housing allowance increase ( all cash of course ). His firm desperate to retain quality personnel to keep them number one in the market.
As a commercial lawyer in Hong Kong he assured me that although actual Labour Law in HKG was neolithic, Contract Law was entirely up to date and current compared to world standards. An employee cannot be coerced into signing a new contract if the new terms are deemed ( by the employee ) to be detrimental to his employment or career prospects. The employee can have his current contract terminated ( as per the terms of the contract ) in our case 3 months written notice and on a seniority basis ( ie last in first out ) or by mutual agreement ( ie redundancy buyout ).
Any attempt to force an employee to sign a new contract other than by agreed measures is an offence under Hong Kong Law.