The new mechanism is expected to take effect next year, when the rate is due for review, instead of this year as earlier predicted by some insiders close to the Minimum Wage Commission.

The review would become an annual exercise in 2026, the source said.

Hong Kong business sector hails minimum wage formula as economist sounds alarm

Under the mechanism, the formula deciding the wage level each year will include factors such as the consumer price index (A), current gross domestic product growth and average GDP growth in the past 10 years.

If the formula produces a negative number, the minimum wage will not be reduced but frozen.

For example, if the level was reviewed this year, the minimum wage per hour would increase from the current HK$40 to HK$41.80, representing a 4.5 per cent increase.

Темы и теги

Гонконг Работа, Карьера, Учеба

Исполнительный совет заработный плата минимальный новый механизм сокращение Комиссия по