The government announced this week that its economy has tipped into a technical recession, after being battered by the pandemic, mounting interest rates and weakened global trade.
The former security chief, who assumed office in July, is paid HK$452,200 a month, and will receive an entertainment allowance of over $10,000 as well, his office told AFP Wednesday. This means Lee earns more than US President Joe Biden -- whose annual salary is $400,000 -- and is second only to Singaporean leader Lee Hsien Loong, who nets around $1.6 million a year.
Like Lam, he is also subject to sanctions by the United States for his role in China's ongoing crackdown on freedoms in the city.
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