non-paid overtime and low-pay entry-level jobs happen not only in CG industry in HK, but happen in many other jobs in other industries in HK too (sales, insurance, banking, real estate, etc). It is basically the working culture in HK, even worse than Mainland China.
It used to be the same working situation in EA Canada a few years ago, 50-hours per week, sometimes overnight before deadline, non-paid overtime. However, the families of the EA employees complained and eventually files a class-action lawsuit to EA Canada. It got to many mainstream presses and made EA's corporate image really bad. Finally, EA Canada reimbursed millions of overtime pays to the employees, and the working situation is much better now.
http://news.cnet.com/Electronic-Arts-fa ... 50316.html
HK government (and Chinese governments in general) is traditionally very protective to the business owners. No unions, no minimum pay, no overtime compensations, no benefits.
The Chinese business practices are mostly boss and workers/servants. Workers/servants are disposable and only commodities, while the boss is the brain&body of the company. This is so wrong. Not many business owners in HK respect their employees (Imagi's bankruptcy is one classic example). However, the employees are the real force to drive and grow the company. For example, Google. GMail, Map, and many other Google's products are actually employees' side projects.
Just 2 cents.