Lord Neuberger discusses development of competition law in Hong Kong address

Lord Neuberger, President of the UK Supreme Court, delivered a lecture last week to the Hong Kong Competition Association on various aspects of the development of competition law in both the UK and Hong Kong, including the role of judges in competition tribunals.

He said: “Competition law in Hong Kong can – and, I suggest, should – draw on what is, at least in many areas, an effectively established legal and economic consensus among members of the International Competition Network across the world.

“Competition law cases not only raise issues of general and competition law, they also raise complex questions of economic theory, econometric evidence and the exercise of regulatory discretion by competition authorities.

“Resolution of such matters normally involves detailed analysis of a lot of factual material, and often assessment of the effect of technical economic evidence. In the light of the experience of the past fifty years, there are many examples and precedents for the new Hong Kong Competition Tribunal to draw upon.

“There is no need to reinvent the wheel. Indeed, that is one of the advantages of coming relatively late to the competition party.”