Hong Kong’s competition watchdog has said that it will step up vigilance and crack down on any entity found violating the city’s new Competition Ordinance that took effect three months ago.
Enforcement actions will be taken against any business that resorts to price-fixing or any other form of collusion that goes against the interests of consumers, the Competition Commission warned Monday.
According to a Hong Kong Economic Journal report, the commission reviewed public information on over 350 industry associations from June to October last year and uncovered disturbing practices at over 20 organizations.
Among the 20 organizations, 12 have reviewed and rectified their practices with regard to pricing.
The organizations include Travel Industry Council of Hong Kong, Hong Kong Real Estate Agencies General Association, The Association of Accredited Advertising Agencies of Hong Kong, The Law Society of Hong Kong, and The Hong Kong Institute of Surveyors.
The commission said it will also look into non-public information that comes to light due to whistle-blowers.
[Chinese version 中文版]
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