As Hong Kong’s new competition regime is set to launch in the first half of 2015, and the Competition Commission is already setting out its agenda to hit the ground running.
According to reports, the regulator’s chairwoman Anna Wu Hung-yuk emphasized that the Commission will focus largely on price-fixing but first will focus on educating the public on antitrust compliance.
“Some people in business are worried about possible increases in the cost of doing business after the ordinance is implemented,” Commissioner Wu said. “My answer to them is that the law will create a more competitive business environment and eventually reduce their operating costs.”
Hong Kong’s new competition law primarily tackles price-fixing and dominance abuse, according to reports. Anticompetitive cartels are certainly on the authority’s radar.
Reports say Wu, who acknowledged that cartels are not uncommon in Hong Kong, declined to list specific sectors that may eventually fall under review by the competition regulator so as to maintain an unbiased view.
Full content: South China Morning Post
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