Mobile menu

Revaluing the Yuan; Companies Abuse Fund set up to Help Workers; The Anti-No-Smoking Campaigners (06 May 2005)


There was speculation that China would take advantage of the long holiday weekend to revalue its currency. It didn't. Representatives of many of the world's economies say it needs to do so to promote balanced trade. Signs are that the yuan will be revalued within months, but what effect might that have on Hong Kong? Since 1998, of all industries the catering industry has made most demands on the Protection of Wages on Insolvency Fund. Throughout last year it accounted for 39 per cent of the 13,600 applications. Some failing companies are abusing it, refusing to pay workers and telling them to go to the fund for their money. A motion in Legco this week looks for ways to prevent such abuses. Last Sunday was the night the lights went out - restaurants, karaoke lounges, discos and nightclubs in one section of Nathan Road switched off their signs to protest against a planned total ban of smoking in such establishments. More protests are planned in the coming week. The legislation to ban smoking is being introduced in Legco next Wednesday, but some entertainment establishment operators refuse to take it lying down.

The Pulse
Publish Date: 
Friday, May 6, 2005
Read more in library record
To access "Lingnan Access Only" Video programmes (e.g. Local TV Programmes on Demand) using thrid-party ISP, you need to use Lingnan University SSL VPN service. For more information on installation of the service, please visit Lingnan University VPN Connection