HK Competition Ordinance will benefit consumers and new businessesThe impending Hong Kong Competition Ordinance will benefit consumers and help level the playing field for new businesses, according to global law firm Linklaters.
Full implementation of Hong Kong’s Competition Ordinance will take effect on 14 December 2015.
“The impact of the new law will grow over time, but it will ultimately lead to a more mature marketplace in which consumers will benefit through enhanced competition,” said Linklaters partner Clara Ingen-Housz.
“The law will present new challenges for businesses in terms of compliance and enhanced competition. Some businesses are already well advanced in getting ready for the new regulatory landscape, while others have adopted a ‘wait-and-see’ approach.
“Enforcement efforts are likely to be targeted, at first, on eliminating serious conduct such as price-fixing or bid-rigging which clearly harm consumers.
“The ordinance will level the playing field for new market entrants and as a result is likely to lead to greater innovation,” Ms Ingen-Housz added.
Ms Ingen-Housz said it will take time for the market to adjust to the implications of the new law, and businesses may benefit from future investment in education and training after the law has come into force.
“The overwhelming effect of the law will be greater competition, which benefits consumers and the broader economy,” Ms Ingen-Housz said.
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