This came after the city’s competition watchdog said it aimed to submit proposals to criminalise such acts as early as September, paving the way for the government to table the necessary legislative amendments by the end of the year.
Anti-competition malpractices have been alleged in the HK$336 million maintenance project that was being carried out at Wang Fuk Court when a devastating fire ripped through the estate in November, with at least two bid-rigging syndicates linked to the tender.
Speaking in an interview with a local newspaper, Yau said that while authorities hope to further combat such practices, it had been rather difficult to gather evidence and that multiple rounds of investigations were required before law enforcement action could be carried out.
Following a request by the commission, he said the government could, depending on resources, apply for more funding allocations to aid the watchdog in work in this regard if there are “valid reasons” to do so.
So far, the commission has carried out five search operations to tackle bid-rigging since 2025, according to Yau.
The commission, he added, has filed a conspiracy case with the Competition Tribunal this year over maintenance operations involving 11 buildings and housing estates as well as initiated legal proceedings against 20 companies and individuals.
Yau also said the government would explore new operational models for Hongkong Post after it recorded eight straight annual losses since the 2017-18 financial year.
Hongkong Post has been operating on a self-funding basis following the establishment of the Post Office Trading Fund, and its income is generated from postal services, philatelic products and courier service fees.
Citing the past year’s losses, as well as declining postal volumes, as “unimaginable”, Yau said authorities would examine a public-private partnership or privatisation model to run the postal operator, with a preliminary plan expected to be released by 2027.
He also said the government would continue to explore further opportunities in emerging markets, such as the Middle East, Central Asia and Asean, adding that the number of foreign enterprises in Hong Kong reached over 11,000 last year, up 10 percent.
That also indicated that more foreign firms are recognising the business potential of Hong Kong, Yau said.
