Hong Kong Competition Commission exposes construction bid rigging
In May this year, the Hong Kong Competition Commission (HKCC) released a report outlining its findings on a market study into bid-rigging in the construction sector.
The report raises concerns that there is widespread collusive activity in tenders for renovation and maintenance projects, to the detriment of home owners who must pay for the associated costs out of their savings.
As a result of its inquiry, the HKCC has identified bid-rigging cartels as a priority for enforcement action and has undertaken to use the full extent of its powers to end such cartels.
This is in line with the ACCC’s 2016 priorities, which continue to focus on pursuing cartel conduct across the economy.
Our colleagues in Hong Kong have prepared an Insight which details the risks of bid-rigging and the importance of competition compliance checks for companies doing business in Hong Kong. Read the full post here.
Picture: Courtesy Flickr / Stephen Rush Remixed to black and white and resized