HK's Competition Bill Unreasonable, Say Lawmakers

Pro-business lawmakers in Hong Kong fear that a competition bill aimed at protecting companies and improving the business environment could achieve the exact opposite of what was intended, reports the South China Morning Post.

 

Under the proposed bill, a company found to have breached fair market competition would be fined as high as 10% of the company's global turnover.

 

Citing the undersecretary of commerce and economic development, Greg So Kam-leung, the Post says the fine "would be determined by a Competition Tribunal, which would be set up to hear cases referred by the Competition Commission."

 

 

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