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Alex Lo

You can always count on Hong Kong's regulatory bodies to give ample time to vested commercial interests to adjust to new legal regimes. And "ample time" can mean years or even a decade or two.
Take the competition law as an example.
The ordinance comes into effect this week. But a serious proposal for the law was made way back in 1996, before the handover, by the Consumer Council.
You can say it's better late than never. But in fact, we could have had a Competition Commission back in 2012, when the ordinance was first passed in the legislature. Instead, the commission becomes operational only now. One supposes three years is plenty of time for businesses to readjust their practices to fall in line with the new legislation. Think again.
READ MORE: Competition law must get the balance on enforcement right, to give all businesses a fair chance
Officials have suggested the commission will first concentrate on some areas and refocus later on others.
This means priority will be given to cases involving alleged price fixing and/or abuse of market dominance. However, issues about monopolies, and mergers and acquisitions will be dealt with later.

Clearly, all four areas are intricately related.
Monopolies and duopolies are more able to exploit their market position to fix prices and practise other anti-competitive tactics. Mergers and acquisitions often produce monopolies and duopolies. But, in the time-honoured tradition of Hong Kong, the authorities say something needs to be taken care of first before others. If there is a saving grace with the new commission, it's that it is being headed by Anna Wu Hung-yuk.
READ MORE: New Competition Ordinance seeks to impose a level playing field for smaller Hong Kong firms
When Wu was head of the Equal Opportunities Commission more than a decade ago, she took an activist approach that was far more aggressive than her predecessor and successors. She energetically enforced - perhaps too energetically in the eyes of the Tung Chee-hwa administration - gender and disability discrimination laws, including pursuing cases against companies and government bodies such as the Education Department. She pushed for race discrimination laws despite strong reluctance from the government to do so.
Let's hope Wu will pursue competition laws with the same vigour as she did at the EOC.


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My Take

Commission should pursue Hong Kong's new competition law with vigour

The new competition law is meant to help smaller businesses and prevent monopolies in the market. Photo: Nora Tam

Chow Tai Fook is one of the most ubiquitous jewellery shops in Hong Kong. Photo: Nora Tam

New Competition Ordinance seeks to impose a level playing field for smaller Hong Kong firms

Coils Lam in one of his stores.

Competition law must get the balance on enforcement right, to give all businesses a fair chance

Retail shop in Mong Kok on Monday. The Tourism Board said on Monday that local retailers and restaurants could be affected by the new cap on the number of trips by mainlanders who hold multiple entry permit to visit Hong Kong. 13APR15

A general view of Bank of China headquarters building; Cheung Kong Centre; Hong Kong Bank HQ; Former Legco Building in Central and other office buildings. 19JUN13

The Alliance against bid-rigging petition Competition Commission chairman Anna Wu Hung-yuk (2nd from RIGHT), on the regulatory guideline on Competition Ordinance, outside the office of the Competition Commission, Wan Chai. 26MAY14

With limited resources for compliance, SMEs especially need as much clarity as possible on what is prohibited so that they can focus their efforts effectively. Photo: Sam Tsang

Hong Kong business groups do not appear to be too worried over the competition law's impact on their dealings with members

Business groups are not overly worried over the new law. Photo: SCMP Pictures

Hong Kong’s Competition Ordinance -- canned laughter at its hypocrisy 

Coils Lam Wai-chun, Chairman and Managing Director of CEC International Holdings Limited. Photo: May Tse

Opinion

Expresses the views, ideas and conclusions of the author. (Eg. Enough of Crazy Rich Asians, think of crazy poor Hongkongers.)


Column

.css-1m2rp1p{color:#34b8b5;}My Take | Commission should pursue Hong Kong's new competition law with vigour

My Take | Commission should pursue Hong Kong's new competition law with vigour