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Author Archives: hksar gov

FS attends Caixin Roundtable meeting in Indonesia (with photos)

     The Financial Secretary, Mr Paul Chan, today (October 11) attended the Caixin Roundtable meeting in Bali, Indonesia, and met with US government financial officials and representatives of the banking sector.

     At the Roundtable, Mr Chan spoke on its theme, “Financial Opening-up: The Engine of New Reformation”,and focused on how Hong Kong, as an international financial centre, can contribute to the opening up of the Mainland’s financial market and assist enterprises in grasping the development opportunities in the Mainland. Drawing the participation of government officials, academics and representatives of the business sector, the Roundtable was held to discuss the opening up of the global financial market and its innovation and reformation.
 
     Before that, Mr Chan met with the Chairman of the Board of Governors of the US Federal Reserve System, Mr Jerome Powell, to exchange views on matters of mutual interest.

     Mr Chan also met with representatives of the banking sector and discussed on global and Kong Kong economic outlook.
 
     Tomorrow (October 12), Mr Chan will attend the Annual Meetings of the International Monetary Fund and the World Bank Group as a member of the Chinese delegation.

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Company and directors fined for wage offences and default of Labour Tribunal awarded payment

     Evergrow Hospitality Limited and its two directors were prosecuted by the Labour Department (LD) for failing to pay employees’ wages, annual leave pay and defaulting on a sum awarded by the Labour Tribunal (LT) under the Employment Ordinance (EO). The company and its two directors pleaded guilty at West Kowloon Magistrates’ Courts and were fined a total sum of $84,000 today (October 11). They were also ordered to pay a sum of about $57,000 via the Courts to the employees.

     The company failed to pay four employees’ wages and annual leave pay totaling about $58,000 within seven days after the expiry of wage periods and termination of employment.  The two directors concerned were convicted for their consent, connivance or neglect in the above offence.

     Also, the company failed to pay awarded sums of about $29,000 to two employees within 14 days after the specified payment dates of the LT awards. One of the directors concerned was convicted for his consent, connivance or neglect in the above offence.

     â€‹”The ruling helps disseminate a strong message to all employers and responsible officers of companies that they have to pay employees wages and annual leave pay within the time limitin accordance with the EO and awarded sums according to the terms of awards issued by the LT or the Minor Employment Claims Adjudication Board.The LD will not tolerate these offences and will spare no effort in enforcing the law and safeguarding employees’ statutory rights,” a spokesman for the LD said. read more