On International Workers' Day, Hong Kong Chief Executive John Lee announced the official implementation of the abolition of the Mandatory Provident Fund (MPF) offset mechanism, a policy change that will benefit over 3 million workers across the territory.
In a social media post, Lee emphasized the significance of this reform in enhancing retirement protection for employees. To assist employers, the government has introduced a 25-year subsidy scheme, allocating over HK$33 billion to help businesses adjust to the new system. Lee expressed hope that this initiative would inspire employers to create safer and more employee-focused workplaces, ensuring workers' rights and well-being are protected.
Ahead of the holiday celebration, Lee visited HK International Airport to meet with ground staff and workers from various sectors. During his visit, he observed cargo handling operations and discussed the daily challenges faced by airport workers. Lee highlighted the importance of their tireless efforts and professionalism, which have contributed to HK's status as the world's busiest cargo airport and reinforced its position as a global aviation hub.
Lee also addressed broader economic challenges, citing the disruptive effects of US tariffs on global supply chains. However, he noted that such challenges present opportunities, outlining HK's seven-pronged strategy to navigate the evolving global landscape. These strategies include leveraging opportunities from the motherland's development, strengthening international collaborations, deepening regional ties, accelerating industrial transformation, fostering innovation and technology, attracting top talent, and promoting international financial cooperation.
He also stressed HK's commitment to expanding into emerging markets in the Middle East and ASEAN regions while supporting regional cooperation to explore new avenues for economic growth.
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