HKUST Business School Magazine

Looking ahead, Butt believes there is still plenty of work to be done because emerging trends will pose new challenges for the Commission. Firstly, the continuing shift to digital platforms and online commerce will create new avenues for potential anti-competitive behavior. Secondly, the speed of change in digital markets will always make it difficult to anticipate and address emerging competition issues. In addition, with so many digital platforms and tech companies based overseas, there will inevitably be many questions about the complexities of extraterritorial jurisdiction. “It is like trying to look into a crystal ball and anticipate what’s coming - and that is very difficult,” said Butt, noting though that there was no intention of shying away from these challenges. Rather, the Commission will remain steadfast in its commitment to performing its functions, upholding a level-playing field in Hong Kong for the benefit of both consumers and businesses in the digital age. Apart from talking to experts and key players, it is also important for us to form strategic partnerships with other agencies to ensure that we can keep up with technological innovations that will have an impact on competition. Rasul Butt CEO of the Competition Commission The Competition Commission and Competition Ordinance An independent statutory body established under the Competition Ordinance, the Competition Commission is committed to promoting a competitive environment that is conducive to free flow of trade, efficiency and innovation, bringing more choices and better quality and prices of goods and services to consumers in Hong Kong. The objective of the Ordinance is to prohibit conduct that prevents, restricts or distorts competition, and to prohibit mergers that substantially lessen competition in Hong Kong. It prohibits three types of anti-competitive conduct described under the First Conduct Rule, the Second Conduct Rule and the Merger Rule which are collectively known as the "competition rules". The Merger Rule currently only applies to the telecommunications sector. Biz@HKUST 23