According the Hong Kong’s Census & Statistics Department, December's
average wage rate grew 3.6% in nominal terms over a year earlier. Two thirds of
companies reported giving salary increases, while 30% decreased salaries. 3%
made no change. The overall salary rate rose 2.5% in real terms (after
discounting for the main consumer price index).
Employment
There is a proposal to remove the right of employers to offset their
contributions to an employee’s Mandatory Provident Fund against long service or
severance payments. If and when this proposal is implemented; firstly, the
change will not be of retrospective (before the implementation date) effect;
secondly, the rate of severance and long service payments will be reduced from
2/3 to ½ of the monthly salary; and thirdly, the government will foot part of
the employer’s extra costs.
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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email
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Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong
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