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Minimum Wage Commission has submitted 2024 Report on Reviewing the Statutory Minimum Wage Rate

The Minimum Wage Commission (MWC) has completed the review of the Statutory Minimum Wage (SMW) rate and submitted its report to the Chief Executive (CE) in Council today (October 31).

Pursuant to the Minimum Wage Ordinance (MWO), MWC’s main function is to make recommendation about the SMW rate to CE in Council. As set out in section 12(3) of MWO, MWC in performing its functions needs to maintain an appropriate balance between the objectives of forestalling excessively low wages and minimising the loss of low-paid jobs, and give due regard to the need to sustain Hong Kong’s economic growth and competitiveness. MWC agreed to adopt the formula (Note) under the enhanced review mechanism of SMW accepted by CE in Council on April 30 this year for conducting the current review.

After CE in Council’s consideration of MWC’s report, the Government will at an appropriate time announce the decision. MWC will also publish its report in due course.

MWC comprises a Chairperson and 12 Members from the labour sector, the business sector, the academia and the Government.

Note: The formula is: