Hong Kong has a service-oriented, free-market economy. The country is one of the world’s largest exporters of merchandise trade, ranking 6th place at the World Trade Organization (WTO). This is due to Hong Kong adopting modern British and western business practices, maximizing their trade opportunities with other countries.
Hong Kong, Sham Shui Po, Sai Wan Ho
IT and Telecommunications, Banking and Finance, Pharmaceuticals, Insurance
The top local universities in Hong Kong include the following:
Local: 1
World: 153
Local: 2
World: 200
Local: 3
World: 362
Local: 4
World: 442
Local: 5
World: 512
Some of the jobs found in Hong Kong and their respective salaries are listed below:
| Job Title | Average Salary (in HKD) | Average Salary (in USD) |
| Financial Manager | 70,600 | 9,025 |
| General Manager | 59,900 | 7,657 |
| Business Development Manager | 54,800 | 7,005 |
| Financial Analyst | 44,700 | 5,714 |
| Business Analyst | 41,300 | 5,279 |
| Project Manager | 37,900 | 4,844 |
Hong Kong offers an enterprising talent market for businesses that are expanding their business globally. However, employers must have a thorough understanding of the laws and regulations of the country. Some information to get started are stated below.
There is no stipulated language preference for written employment contracts in Hong Kong.
Newly hired employees can be under probation for up to 3 months.
| Date | Name | Type |
| 1 Jan | New Year’s Day | National holiday |
| 10 Feb | Lunar New Year’s Day | National holiday |
| 12 Feb | Third Day of Lunar New Year | National holiday |
| 13 Feb | Fourth Day of Lunar New Year | National holiday |
| 29 Mar | Good Friday | National holiday |
| 30 Mar | Holy Saturday | National holiday |
| 1 Apr | Easter Monday | National holiday |
| 4 Apr | Tomb Sweeping Day | National holiday |
| 1 May | Labour Day | National holiday |
| 15 May | Buddha’s Birthday | National holiday |
| 10 Jun | Dragon Boat Festival | National holiday |
| 1 Jul | Hong Kong Special Administrative Region Establishment Day | National holiday |
| 18 Sep | Day after Mid-Autumn Festival | National holiday |
| 1 Oct | National Day of the People’s Republic of China | National holiday |
| 11 Oct | Chung Yeung Festival | National holiday |
| 31 Oct | Halloween | Observance |
| 25 Dec | Christmas Day | National holiday |
| 26 Dec | First Weekday After Christmas Day | National holiday |
| Type of Leave | Time Period | Mandatory |
| Annual Leave | 7 days’ annual leave with pay after serving every period of 12 months under a continuous contract | Yes |
| Sick Leave | 36 (Category 1) and 84 (Category 2) | Yes |
| Maternity Leave | 14 weeks | Yes |
Salaries are paid monthly in Hong Kong. It is due on the last day of the wage period. If the employer fails to release it on the required day, a grace period of 7 days is given after which they are subjected to pay interest on top of the wages.
The National minimum wage in Hong Kong is HKD 40 per hour.
There are no laws in Hong Kong specifying the standard working hours and the overtime rate for employees. However, employers may outline an overtime rate in the employment contract.
A 13th month pay is not mandatory for Hong Kong employees. However, most employers in the country pay their employees an extra month each year as a bonus incentive. It is usually released during Lunar New year or at the end of the year.
Below are some benefits that workers in Hong Kong often receives:
| Type of Contribution | Employee’s Salary | Rate |
| Mandatory Provident Fund | Less than HKD 7,100 | 5% |
| HKD 7,100 – HKD 30,000 | 5% | |
| More than HKD 30,000 | HKD 1,500 |
| Type of Contribution | Monthly Salary Range | Rate |
| Mandatory Provident Fund | Less than HKD 7,100 | 0% |
| HKD 7,100 – HKD 30,000 | 5% | |
| More than HKD 30,000 | HKD 1,500 |
| Net Chargeable Income (in HKD) | Tax amount (in HKD) | Percentage on excess |
| 0– 50,000 HKD | 0 | 2% |
| 50,001– 100,000 HKD | 1,000 | 6% |
| 100,001– 150,000 HKD | 4,000 | 10% |
| 150,001– 200,000 HKD | 9,000 | 14% |
| Above 200,000 HKD | 16,000 | 17% |
Hong Kong has no Sales Tax nor VAT.
Contract termination in Hong Kong may be initiated by either the employer or employee. It may take place with adequate notice from the party or through payment in lieu of notice. Notice period and pay in-lieu are dependent on whether the employee is on probation as well as contractual considerations.
The notice period for Hong Kong employees depends on whether they are in their probation period or not. Those under probation period will have up to 7 days of notice period while others at least 1 month.
Below is the calculation for severance pay in Hong Kong:
| Salary Type | Severance Pay Calculation |
| Paid monthly | 2/3 of last month’s pay x reckonable years of service, or it can be 2/3 of HK$22,500 for each month’s pay x years of service; whichever is less |
| Paid daily | 18 days’ wage x reckonable years of service |
In Hong Kong, foreign employees are encouraged to work in the country via a special work permit scheme called Employment for Professionals. The work permit is issued for a year and can be renewed.
