Minimum wage level set to be reviewed annually: sources

The statutory minimum wage level will be reviewed annually, and a new mechanism of "increase only" will be introduced, according to sources from the labour sector.

The Minimum Wage Commission submitted a report at the end of last year regarding whether the two-year review practice should be adjusted. 

Sources said Monday that the review will be shortened to an annual review, and the minimum wage will be raised from the current HK$40 to HK$41.8 under the new mechanism.

The labour sector has recently called for increasing the minimum wage to HK$55. However, Executive Councilor and catering sector lawmaker Tommy Cheung Yu-yan argued that the minimum wage measure would weaken Hong Kong's competitiveness and should not be implemented.

The last minimum wage adjustment took effect last May, rising from HK$37.5 to HK$40 per hour.