Closeup of Chinese Lanterns in red and yellow

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Published in Hong Kong News on 02.05.2024

Hong Kong News: Hong Kong Government Implements Annual Review of Statutory Minimum Wage

The Hong Kong government has officially accepted the recommendations put forth by the Minimum Wage Commission (MWC) regarding the review process for the Statutory Minimum Wage (SMW) in the city.

Under the new guidelines, the SMW rate will be reviewed on an annual basis, ensuring that adjustments are made regularly. The MWC has proposed a formula for conducting these reviews, taking into account two key indicators: inflation and the economic growth factor.