TY  - JOUR
AU  - Wu, Changqi
AU  - Cheng, Leonard K
TI  - Hong Kong's Business Regulation in Transition
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6332
PY  - 1997
Y2  - December 1997
DO  - 10.3386/w6332
UR  - http://www.nber.org/papers/w6332
L1  - http://www.nber.org/papers/w6332.pdf
N1  - Author contact info:
Leonard Cheng
Department of Economics
Clear Water Bay
Kowloon, Hong Kong, CHINA
Hong Kong
E-Mail: leonard@ust.hk
M1  - published as Changqi Wu, Leonard K. Cheng. "Hong Kong's Business Regulation in Transition," in Takatoshi Ito and Anne O. Krueger, editors, "Deregulation and Interdependence in the Asia-Pacific Region" University of Chicago Press (2000)

AB  - The transition of Hong Kong's main economic activities from manufacturing to services is accompanied by gradual changes in the regulatory regimes for monopolies. The local telecommunication services industry has been liberalized, deregulation of public transport is taking shape, and the schemes of control for electricity suppliers are candidates for reform. In this paper, we review the evolution of business regulation in Hong Kong, analyze the salient features of its scheme of control regulation and evaluate the impact of transition from regulation to competition. To provide a sharp contrast between the difficulties of the traditional approach to regulation and the benefits of introducing competition, we focus on the cases of electricity and telecommunications.  The direction for future changes is also discussed.
ER  -