Wednesday, October 29, 2014

Thomas Cheng Interview on the Competition Commission

"Hong Kong regulator needs more enforcement experience before making big changes to competition rules, commissioner says"
by Freny Patel
Policy and Regulatory Report (PaRR)
28 October 2014
Hong Kong's Competition Commission will need much more enforcement experience than it currently possesses to make major adaptations to the city's draft competition guidelines, released on 9 October, says Thomas Cheng, a member of the commission.
    Cheng's comments come in the wake of criticism by some antitrust lawyers that the guidelines mirror those prevailing in Europe and do not necessarily reflect local circumstances.
    A Hong Kong-based antitrust lawyer said that although the commission had taken a lot from Europe when drafting the guidelines, the guidelines needed to more faithfully reflect the characteristics of the Hong Kong market. The lawyer said Hong Kong was largely a distribution centre and a relatively small economy with many family-owned businesses and interlocking directorates.
   Cheng told PaRR that local adaptation was always a difficult issue, considering that competition law principles were meant to apply generally.  Click here to read the full article available on the website of Howse Williams Bowers.

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