HONG KONG: Hong Kong’s new chief John Lee acquired a wage bump that might make him among the many world’s highest-paid politicians, in response to figures offered by his workplace Wednesday, even because the monetary hub’s economic system undergoes a downturn.
The federal government introduced this week that its economic system has tipped right into a technical recession, after being battered by the pandemic, mounting rates of interest and weakened world commerce.
Regardless of town’s dip in fortunes, the chief government will nonetheless be comfortably compensated, in response to figures offered by his workplace.
The previous safety chief, who assumed workplace in July, is paid HK$452,200 ($58,000) a month, and can obtain an leisure allowance of over $10,000 as nicely, his workplace advised AFP Wednesday.
His wage is a step up from that of his predecessor Carrie Lam, who used to earn round $54,000 a month.
This implies Lee earns greater than US President Joe Biden — whose annual wage is $400,000 — and is second solely to Singaporean chief Lee Hsien Loong, who nets round $1.6 million a yr.
Like Lam, he’s additionally topic to sanctions by the US for his function in China’s ongoing crackdown on freedoms within the metropolis.
Lam as soon as revealed she had “piles of money” at dwelling as she was denied banking providers because of the US sanctions.
It’s unclear whether or not Lee receives his wage in money.
However he has on a number of events denounced the American sanctions as “bullying” and mentioned he paid them no consideration.
The Chinese language metropolis repeatedly tops the chart as probably the most costly cities to dwell in, with world-beating ranges of wealth inequality.