The Hong Kong Government has taken another significant step toward the enactment of a comprehensive competition law.  In May 2008, the Hong Kong Commerce and Economic Development Bureau published a three-month public consultation paper, entitled “Detailed Proposals for a Competition Law” (“Consultation Paper”).  Public consultations are a standard preliminary step in Hong Kong before the introduction of major new legislation, and this is the government’s second such public consultation within the past two years.

New legislation may be introduced as early as the 2008-09 legislative session.  While it may still be months (or even years) before new legislation is enacted, this Consultation Paper presents the most detailed blueprint yet of the government’s proposed new competition regime.  Companies who are active in Hong Kong should pay considerable attention and contemplate reviewing their existing compliance programs and business practices.