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Hong Kong: Competition Commission demands government funding

 |  September 29, 2014

Hong Kong’s new competition authority is reportedly demanding a firm commitment from the government to provide the necessary funding to adequately enforce antitrust rules.

Competition Commission head Anna Wu Hung-yuk says she is discussing the matter with officials to ensure that laws can be properly enforced when they come into effect next year. After months of warning that resources will be tight but crucial to providing enough competition in Hong Kong’s markets, Wu says she has been in talks to develop a funding plan.

”We haven’t come up with an actual formula but we hope to have a better resolution as soon as possible,” she told reporters.

She added that government officials have been supportive of the Commission’s initiatives and have allowed the watchdog’s cash reserves to grow.

Full content: South China Morning Post

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