'Govt Needs A Mechanism To Set Minimum Wage'
"); jQuery("#212 h3").html("

"); });
2023-04-24 HKT 08:50
A welfare advocacy group has said the government must introduce a mechanism to set a minimum wage in Hong Kong, based on a percentage of the city's median wage.
Speaking to RTHK as a public consultation was due to end on Monday, Sze Lai-shan, the deputy director of the Society for Community Organisation, or SoCO, said the SAR's minimum wage lags at 38 percent of the median wage, and should be considerably higher.
"There's no mechanism," she said. "I don't know how the government sets the minimum wage. We also checked with other places such as Taiwan, Korea or even in Shenzhen.
"All of those places set the minimum wage at around 50 percent, or even up to seventy per cent, of the median wage. In Hong Kong now the rate is 38 percent. The standard is too low."
The government has proposed raising the minimum wage by HK$2.50 to $40 starting from next month. SoCO's suggestion would push it up to over HK$53 per hour.
XTransfer Partners With Bank SinoPac HK To Expand Cross-Border Payment Services
XTransfer has entered into a collaboration with Bank SinoPac, through its Hong Kong Branch, to expand international ope... Read more
Standard Chartered To Launch Bitcoin And Ethereum Custody Services By 2026
Standard Chartered Bank (Hong Kong) participated in Hong Kong Fintech Week 2025 (HKFTW25) as a strategic partner, annou... Read more
HashKey And Kraken Form Partnership On Institutional Tokenised Assets
HashKey and Kraken have announced a strategic partnership to promote institutional adoption of tokenised assets. The co... Read more
Reap Expands Global HQ With New Office In Hong Kong
Reap, a global fintech company providing stablecoin-enabled financial infrastructure, has expanded its global headquart... Read more
HeyMax Debuts In Hong Kong, Partnering With Cathay To Drive Regional Growth
Loyalty and travel rewards platform HeyMax has made its first international launch in Hong Kong, partnering with Cath... Read more

