CNBC latest to pull back from Hong Kong as local office closes, shows axed

CNBC has become the latest media outlet to cut ties with Hong Kong, as its local office is set to close down amid a reshaping of programming and production, Bloomberg reported. The U.S.-based broadcaster announced that several daily shows, such as Inside India, The China Connection, and Europe Early Edition, will be discontinued, alongside the termination of CNBC Meets and Built for Billions.

A spokesperson for CNBC stated that international editorial coverage would continue to be overseen from London, Abu Dhabi, Singapore, and Beijing, with the Hong Kong bureau ceasing operations. This move follows over a dozen layoffs this year, following Comcast's spin-off of CNBC and sister network MS NOW into Versant Media Group.

Hong Kong, once a significant regional media hub, has witnessed a series of international news operations scaling back or leaving the city in recent years. Notable exits include Yahoo in April, The Wall Street Journal's relocation of its Asia headquarters to Singapore in 2024, and Radio Free Asia's closure in Hong Kong in 2024 due to the implementation of the national security law.

The New York Times also shifted a third of its Hong Kong staff to South Korea in 2020, citing security concerns. Hong Kong has seen a decline in press freedom rankings since the introduction of the 2020 and 2024 security laws, with watchdogs accusing the government of arresting and jailing journalists, raiding newsrooms, and closing around 10 media outlets.

Over 1,000 journalists have lost their jobs, prompting many to emigrate from the city. Despite Chief Executive John Lee's claim that press freedom is "in the pocket" of Hongkongers, government departments have been hesitant to respond to story pitches.