Hong Kong minimum wage to increase by 4.5% to HK$41.8 per hour this year

Hong Kong will raise the minimum wage by 4.5 per cent to HK$41.8 (US$5.3) per hour this year and introduce a formula for future adjustment that will not allow pay cuts, the Post has learned.

The minimum wage will also be reviewed annually, rather than every two years at present.

According to a source close to the city’s Minimum Wage Commission, the existing HK$40 hourly rate is set to increase by HK$1.8.

The commission was also expected to formalise the review process through introducing a formula which would consider factors such as the Consumer Price Index A, current GDP growth and average GDP growth in the past 10 years, the insider said.