Oppose abolishing MPF hedging mechanism and setting up standard working hours

Oppose abolishing MPF hedging mechanism and setting up standard working hours

        Since over 90% of travel agents in Hong Kong are small and medium enterprises (SMEs), employers actually face as much pressure as employees throughout the operation of their business. Due to the lack of social welfare and retirement protection, in order to show consideration for different parties, the Government has recently launched a program to abolish the MPF hedge system, as well as make further consultation on the implementation of legislation for standard working hours, both of which have direct and significant impacts on the SMEs. Apart from increasing the operating costs and influencing capital flows, such arrangements may even lead to shrinking or close down of the SMEs. In fact, the anticipated situation will further enhance monopolization of the market by major groups.

To this end, I have actively participated in the discussion and stated the pros and cons of these two issues in LegCo meetings and different occasions. Having anticipated the undesirable outcomes, I strongly opposed abolition of the MPF hedging mechanism and introducing legislation on standard working hours.  

On 10 November, 2016, I spoke at the LegCo meeting to oppose the abolition of the MPF hedging mechanism.

      On 12 January, 2017, the LegCo members debated on the "Expectation for the Next Chief Executive". I mentioned during the meeting that apart from meeting the Central Government’s requirements, “Loving China and Hong Kong, possessing competence in governance, trusted by the Central Government, and supported by Hong Kong people”, the next Chief Executive would also need to pay attention to the business sector, especially the benefits of SMEs.

 

On 16 March, 2017, I participated in the Hong Kong Association of China Travel Organizers lunch gathering and introduced to members on the Government's initial proposal to cancel the MPF hedging mechanism and its drawbacks.


On 3 April, 2017, I attended a talk organized by the Hong Kong Outbound Tour Operators Association and explored with members on the impacts of abolishing the MPF hedging mechanism to the companies.

 

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