HKRMA Response on Minimum Wage Legislation
(15 October 2008, Hong Kong) The HKRMA is disappointed with the introduction of a minimum wage. We respect and continue to support the free market mechanism that laid the solid foundation for the continued economic success of Hong Kong. Legislation on minimum wage will distort the labour market. We believe it is through market forces, the business sectors and the labour market can work its best and bring ultimate benefits to the economy as a whole.
Legislation on minimum wage is inevitably to be introduced, the Association urges the Administration to take the following initiatives before introducing legislation:
- Undertaking a full scale Regulatory Impact Study;
- Benchmarking experience of other Asian countries such as Singapore & Taiwan (in view of similar background) as well as those pioneers in the field including the U.S., U.K., and Australia;
- Establishing a transparent mechanism in the determination of the minimum wage level, with an independent committee to review it on a regular basis.
About HKRMA
The Hong Kong Retail Management Association (HKRMA) is the major association representing Hong Kong's retail industry. The Association's current membership represents more than 5,000 retail outlets and employs about half of the total retail workforce in Hong Kong. Member organisations are engaged in various types of retail businesses ranging from department stores to supermarkets, convenience stores, drug stores, food and beverage, fashion and accessories, specialty stores and industry related service organisations.
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15/10/2008
