Unions Decry Possible Freeze In Minimum Wage

"); jQuery("#212 h3").html("

"); });
2020-09-25 HKT 11:57
Unions on both sides of the political divide have called on the government to increase the minimum wage, amid reports that the it would be frozen this year – for the first time since it was implemented nearly a decade ago.
Sources have told RTHK that labour and management representatives on the Minimum Wage Commission have failed to reach a consensus during a biennial review of the wage standard. Currently, the minimum wage is HK$37.5 an hour.
Kingsley Wong, the chair of the pro-Beijing Federation of Trade Unions, warned that a freeze in the minimum wage is effectively a cut in wages in disguise after taking into account inflation.
Wong told an RTHK's Millennium programme that about 20,000 workers are getting paid the minimum wage, that society should care more about them, and that in order for the minimum wage to catch up with inflation, it should be increased to HK$39.30.
Veteran unionist and former opposition lawmaker Lee Cheuk-yan echoed a similar sentiment, but said that even a wage increase by HK$2 was barely enough to overcome inflation.
Lee told RTHK's Hong Kong Today that a wage freeze would be a “double blow for the low-wage workers” given the high rate of unemployment and underemployment in the city, and that livelihood of workers will suffer.
He also said that if wages are frozen, it would last for two years because the review takes place bi-annually.
“I think it’s really very cold-hearted on the part of the government that when workers are suffering already they decided to freeze the minimum wage," he said.
Lee called for an increase in wages, and also take steps to improve the economy and be sure not to put "the burden of suffering on the lowest-paid workers".
"Even if you suppress wages of lowest-paid workers, it will not help employers or business, and [the] only way out is to improve the economy, and it depends on Covid-19 situation."
Future Fintechs Hong Kong Subsidiary Seeks VASP And Asset Management Licenses
Future Fintech, a financial and digital technology services provider, announced that its wholly owned Hong Kong subsidi... Read more
Can Regulation Scale With Innovation? Inside The Stablecoin Plans Of HK And The U.S.
Back in 2022, stablecoins were still an emerging topic. Yet, they stirred enough flurry for the Hong Kong Monetary Auth... Read more
Cyberport Start-ups Forge Regional Fintech Ties At MyFintech Week 2025 In Malaysia
Cyberport led a delegation of its fintech start-ups to MyFintech Week 2025 (MyFW 2025), held in Kuala Lumpur from 4 to ... Read more
Hong Kongs Stablecoin Law Triggers Industry Concerns Over KYC Rules
Hong Kong’s newly implemented stablecoin law, in effect since 1 August, has sparked concern among some in the industr... Read more
Stopping Fraud At The Gate: The New Imperative For Registration & Transaction Monitoring
The Asia-Pacific fintech landscape is thriving, fueled by the rapid adoption of digital payments, online banking and al... Read more
Hong Kong Private Banks See 14% Growth, Hire 400 More Wealth Managers
Hong Kong’s private banking and wealth management sectors are poised for further growth in hiring and office expansio... Read more