Minimum Wage To Go Up To HK$40: Sources
"); jQuery("#212 h3").html("
"); });
2022-10-13 HKT 17:11
RTHK learned on Thursday that a government-appointed committee has proposed raising the statutory minimum wage in Hong Kong from HK$37.5 to HK$40 per hour.
The 6.7 percent hike is expected to come into force in May next year upon the Executive Council’s approval.
Reacting to the news, labour sector lawmaker Chau Siu-chung, of the Federation of Hong Kong and Kowloon Labour Unions, said some workers told him they are happy with the increase after the minimum wage has remained steady since 2019, but are disappointed that it barely catches up with inflation.
Chau said the sector hopes the Minimum Wage Commission could propose raising the minimum wage to HK$46 per hour.
Another labour group, the Federation of Trade Unions, said it reluctantly agreed to the increase after a freeze last year, adding the government should revise the mechanism that determines the minimum wage and revisit the level every year, instead of every two years.
A member of the Labour Advisory Board representing employers, Jimmy Kwok, said the increase is in line with inflation and believes sectors such as catering and retail will find it acceptable.
The Minimum Wage Commission is expected to submit its proposal later this month.
DAB lawmaker Frankie Ngan said he’s not so much concerned about the actual wage level but how it is calculated.
He urged the government to calculate the minimum wage with a standard formula that takes into account factors such as inflation and median wage.
“It will be objective, and it is useful for the business sector and the labour sector to perceive what the minimum wage level is, and it will reduce the uncertainty for the labour market,” he said.
Ngan also said the minimum wage level should be reviewed every year.
SFC Report Unveils Major Cybersecurity Breaches Among Licensed Corporations
Hong Kong’s Securities and Futures Commission (SFC) SFC Thematic Review Report has flagged significant cybersecurity ... Read more
Hex Trust Secures Morgan Creek Digital Investment, Total Capital Hits US$100M
Hex Trust, a digital asset financial services company specialising in custody, staking, and market services, announced ... Read more
Hong Kong Green Fintech Growth Part Of Steering Groups 2025 Top Targets
The Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) met on 6 February 2025 to outline its ke... Read more
Ant International Appoints Jiang-Ming Yang As Chief Innovation Officer
Ant International has appointed Jiang-Ming Yang as Chief Innovation Officer (CIO), effective immediately. In this role,... Read more
CoinBest Rebrands To OSL Japan, Strengthening Commitment To Digital Assets
OSL Group (863.HK), a publicly listed digital asset company, announced the renaming of CoinBest K.K. (CoinBest) to OSL ... Read more
Weixin Cross-Border Payments Surges To 134% During The Spring Festival
Weixin shared its latest data on cross-border payments, international user activity, and Mini Program usage during the ... Read more