TNAG-1842-FCO40-2617-House-of-Commons-Select-Committee-on-Foreign-Affairs-enquiry-1989 — Page 11

23.

The functioning of the labour market in Hong Kong

nas also been an important contributory factor in the

it too has to a large degree

growtn of the economy.

operated on free market principles, with wages being mainly

determined by the supply

various

and demand for labour in the

trades.

This has given the

industries and

flexibility for workers to

productive industries and trades and a way from the less

productive ones. This has not, at least in recent decades,

led to exploitation.

of labour. The competition of

of employers for workers and

the constant readiness of the workforce to seek better

opportunities has ensured a steady increase in real wages.

move into the growing and more

In general tnere has been a shortage

24.

Market forces operate in Hong Kong within the

framework of a very considerable body of labour

legislation. This covers, for example, minimum working

conditions, the regulation of safety and health hazards in

certain industries, the employment of women and young

people, severance pay and so on. Hong Kong adheres to more

International Labour Organisation (ILO) conventions than

any other country or territory in Asia and more than some

advanced countries.

Very considerable efforts are also

being made in providing training to upgrade the skills of

the working population.