Hong, former head of research at Bank of Communications International Holdings Co (BoCom International), said he has joined Shanghai-based GROW Investment Group as chief economist and will open its first offshore office in Hong Kong, where he will set up a China research team.

"You need to have independence. You need to stick to your values, and make objective and scientific judgement on how things develop. I think that is very important," he told Reuters on Wednesday.

Hong declined to comment on why he left BoCom International several months ago. His departure came days after he was censored on local social media platforms following a series of downbeat commentaries about China.

But he said that analysts working at state-owned brokerages and in mainland China face restrictions.

"Even if you don't speak the truth, market prices will tell the truth," said Hong.

GROW Investment, a global asset manager with multiple strategies, runs funds that invest in convertible bonds, distressed assets, and private equity.

The asset manager has six offices on mainland China, and will expand offshore, Hong said, with a new office to be opened soon in Singapore.

Hong was a prominent voice with an active local social media presence even as negative comments by market analysts and commentators in China faced increasing scrutiny and censorship as the country's economy and financial markets encountered growing headwinds.

Hong's WeChat and Weibo social media platforms were suspended in April.

A message on his WeChat account says that it is blocked, while his Weibo account has vanished. He announced his new role on Twitter, which is blocked in China.

(Reporting by Shanghai newsroom; Editing by Tony Munroe and Kim Coghill)