A PYMNTS Company

Hong Kong: Competition Commission chairwoman suggest tightening of completion law

By  |  January 17, 2019

On Wednesday, January 16, Hong Kong Competition Commission chairwoman Anna Wu Hung-yuk revealed that the body was reviewing the Competition Ordinance with the government, about three years after the law came in.

Wu said one of the topics she would bring up was widening the law’s scope to regulate mergers likely to greatly reduce competition in Hong Kong across all sectors, rather than only applying to telecoms companies as it currently does. But she saw challenges ahead.

“Handling the issue over merging will be the most difficult. It touches on the interest of the business sector,” she said.

Other possibilities for talks included abolishing the ordinance’s exemption for statutory bodies, allowing individuals to sue for anticompetitive conduct rather than having to go through the Commission, and giving the regulator the power to demand documents from firms if needed.

Full Content: South China Morning Post

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.