Hong Kong is about to enact its first minimum wage, which will likely be around 28 Hong Kong dollars, or US$3.61, per hour.

But opinion is divided on whether setting a wage floor will help or harm workers as well as the overall economy.

Legislation to enact a minimum wage was passed in July and is part of the government's efforts to address Hong Kong's worsening wealth gap.

"Having a minimum wage simply means there is a transfer of income from people at the bottom of the wage scale to people who are slightly above them. Only if Hong Kong's total economic output increases and social mobility improves can more people share the pie. Unless Hong Kong can manage the huge flows of low-cost and low-skilled workers coming across the border each day, there will continuously be a segment of the population which lives in poverty." Professor Francis Lui, Hong Kong University of Science Technology, said.

Professor Francis Lui, who teaches economics at the Hong Kong University of Science & Technology, and Lee Cheuk-yan, general secretary of the Hong Kong Confederation of Trade Unions, face off on the issue.

But Lee Cheuk-yan disagreed with him. He said "Once minimum wage is implemented, there will be an immediate knock-on effect when people's take-home pay goes up. Plus, the business decision to lay off workers isn't only due to minimum wage. It was already triggered by high rents -- it's the root of all evil."