Hong Kong: New competition authority pleads for funds

As Hong Kong’s new competition law is set to go into effect next year, its Competition Commission is now seeking the funds to adequately enforce the legislation.

According to reports, the Commission’s chairwoman Anna Wu Hung-yuk spoke at the economic development panel before the Legislative Council, telling lawmakers, “if we don’t have enough financial resources to initiate cases, it will be difficult for us to carry out our work.” She added that expenses will be high to bring cases before the Competition Tribunal.

The regulator also touched upon other ways the Commission is readying for its new enforcement role, noting that sanctions must be proportionate to competition failures in order to successfully deter anticompetitive behavior.

The Commission has publically spoken on its preparations for the new competition legislation and said it would focus on price-fixing, abuse of market dominance and other anticompetitive practices.

Full content: South China Morning Post

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