Author Archives: hksar gov

     The Chief Executive has approved the re-appointment of Mrs Laura Cha May-lung as Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX) with immediate effect.

     The approval was made under the Securities and Futures Ordinance (SFO) (Cap. 571). Mrs Cha’s chairmanship will coincide with her term of appointment as a member of the Board of Directors of HKEX, which will conclude at the end of the 2022 Annual General Meeting of the HKEX.

     Mrs Cha was elected as Chairman of the HKEX by the directors at the board meeting on May 7, 2020. Section 69(1) of the SFO provides that “no person shall be the chairman of a company which is a recognized exchange controller unless he has the approval in writing of the Chief Executive”. By virtue of Schedule 10 to the SFO, the HKEX is deemed to have been recognised as an exchange controller under section 59(2) of the SFO.

     The Government is confident that with Mrs Cha’s leadership, the HKEX will strive to further enhance Hong Kong’s market quality and competitiveness, and strengthen the city’s position as the premier fund raising and risk management platform in the region.

     Mrs Cha was re-appointed by the Financial Secretary as a member of the Board of Directors of the HKEX in February 2020 under the SFO for a term of around two years until the conclusion of the Annual General Meeting of HKEX in 2022. read more

The following is issued on behalf of the Hospital Authority:      As at noon today (May 19), in the past 24 hours no COVID-19 confirmed patient was discharged from hospital. So far, a total of 1 025 confirmed and suspected patien… read more

     A spokesman for the Civil Service Bureau (CSB) said that the bureau received the tentative results of the 2020 Pay Trend Survey from the secretariat of the Pay Trend Survey Committee (PTSC) today (May 19).

     The tentative results, presented in the form of gross pay trend indicators (PTIs), show the rates of pay adjustment in the private sector in three salary bands for the period from April 2, 2019, to April 1, 2020. The PTSC will meet next week to decide whether to validate the gross PTIs.

     “The Chief Executive-in-Council will fully consider all relevant factors under the established annual civil service pay adjustment mechanism in determining the annual civil service pay adjustment. These factors include the net PTIs (see attachment) calculated from the gross PTIs, the state of Hong Kong’s economy, the Government’s fiscal position, changes in the cost of living, the pay claims of the staff side and civil service morale. The effect of the coronavirus disease 2019 epidemic in recent months will also be reflected in the relevant factors,” the CSB spokesman said. read more

     The Centre for Health Protection (CHP) of the Department of Health (DH) has announced that as of 4pm today (May 19), no new local confirmed cases of coronavirus disease 2019 (COVID-19) had been recorded, and that the number of cases… read more

The following is issued on behalf of the Pay Trend Survey Committee:

      The 2020 Pay Trend Survey (PTS) Report, compiled by the Pay Survey and Research Unit of the Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service, was released today (May 19) to Members of the Pay Trend Survey Committee (PTSC).

     The survey has indicated the following average pay adjustments in the surveyed companies over the 12-month period from April 2, 2019, to April 1, 2020.

Tentative findings of the 2020 PTS (subject to verification)
—————————————————————–
 

	Basic Pay Indicator	+	Additional Pay Indicator	=	Gross Pay Trend Indicator
Lower Salary Band (below $24,070 per month)	3.53%	+	-1.22%	=	2.31%
Middle Salary Band ($24,070 – $73,775 per month)	4.19%	+	-1.18%	=	3.01%
Upper Salary Band ($73,776 – $147,235 per month)	3.67%	+	-0.95%	=	2.72%

                  
     Members of the PTSC are at present studying the survey report in detail. Subject to their analysis and deliberation, the PTSC will verify and consider whether to validate the findings of the survey at its meeting on May 27. After that, the PTS results will be submitted to the Government. 

     In accordance with the established practice, the Chief Executive-in-Council will take into account the Pay Trend Indicators derived from the PTS and other pertinent considerations (such as the state of Hong Kong’s economy, the Government’s fiscal position, changes in the cost of living, the pay claims of the staff side and civil service morale) before making a decision on the 2020-21 civil service pay adjustment.

     The survey results reflect the pay trend in 107 companies covering 146 434 employees over the 12-month period from April 2, 2019, to April 1, 2020. Among these companies, there are 80 larger companies (employing 100 or more staff) and 27 smaller companies (employing 50 to 99 staff). These companies are regarded as typical employers in their respective fields and are generally known as steady and good employers with rational and systematic salary administration.

     The survey is conducted in accordance with the improved methodology as approved by the Chief Executive-in-Council in March 2007. The survey takes into account adjustments to basic salary and additional payments awarded to employees of the surveyed companies attributable to factors in relation to cost of living, general prosperity and company performance, general changes in market rates, merit and inscale increment.

     The PTSC is chaired by Mr Lee Luen-fai, who is a member of the Standing Commission on Civil Service Salaries and Conditions of Service. Mr Lee wishes to express the PTSC’s sincere appreciation for the co-operation and assistance rendered by the companies that participated in the 2020 PTS. read more