The Securities Association of China has blacklisted Paul Donovan, a chief economist at the Swiss investment bank UBS, as “persona non grata” after he sparked an outcry for discussing “a Chinese pig” in one of his analyses on inflation in the country.
In a statement posted on its website on Friday, the association demanded that UBS “take measures to eliminate negative effects, effectively strengthen the management and compliance review of the publication of research reports, eliminate the occurrence of similar issues, and avoid affecting the company’s normal business operations in China”.
The association also recommended that its members not cite comments by Donovan and not invite him to their events.
Donovan, who is British, made the remarks in a podcast on Wednesday when he attributed higher Chinese consumer prices to “sick pigs” and dismissed the global importance of the price inflation, saying: “Does this matter? It matters if you are a Chinese pig. It matters if you like eating pork in China. It does not really matter to the rest of the world.”
Although the remarks were later removed from circulation by the bank, they triggered outrage among Chinese internet users who condemned them as derogatory.
Chinese pig farms have been plagued in recent months by African swine fever, with some sick livestock being imported to Hong Kong, wreaking havoc with the city’s pork supplies.
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