Innovation and Technology Commission and Competition Commission collaborate to combat anti-competitive conduct
The Competition Commission (Commission) announced today (June 25) that it has commenced proceedings in the Competition Tribunal against three undertakings and two individuals. The case involves Technology Voucher Programme (TVP) applications received between 2019 and 2023, in which the Innovation and Technology Commission (ITC) and the TVP Secretariat (the Hong Kong Productivity Council (HKPC)) identified irregularities during the vetting process and proactively referred them to the Commission for investigation.
Innovation and Technology Commission, Photo source: reference image
A spokesman for the ITC said, "The ITC and the Secretariat rigorously review all information submitted by applicants and continuously enhance checking mechanisms to ensure that procurement is conducted on an independent, open, fair and competitive basis. The current case was identified and proactively reported by the ITC and the Secretariat, and certain disbursements were withheld after detection of irregularities. This reflects the effectiveness of the checking mechanisms and the high vigilance of ITC and HKPC colleagues handling the case. We have zero tolerance for anticompetitive conduct involving funding schemes and will pursue any such cases to the end."
The TVP was launched in 2016 to subsidise local enterprises/organisations in using technological services and solutions on a matching basis, to improve productivity, upgrade or transform their business processes. The HKPC serves as the TVP's Secretariat. As the TVP had achieved its original objectives, it had ceased to accept new applications after December 31, 2024.
The ITC will continue to process all applications of funding schemes to the highest standards and maintain a high level of vigilance. In recent years, the ITC has also strengthened the use of technology to analyse data concerning applicants and service providers, in order to identify suspected cases more precisely and refer them to law enforcement agencies for followup.
Competition Commission, Photo source: reference image
Government makes long-term housing arrangement plan available to Wang Chi House
The Government said today (June 26) that it has received the duly signed "Letter of Acceptance" from over three quarters (75 per cent) of owners of Wang Chi House (Block H) of Wang Fuk Court in Tai Po (a total of 193 units) (77.8 per cent), confirming their intention to sell their titles to the Government. According to the follow-up arrangements for Wang Chi House announced earlier, with the strong consensus reached among owners of Wang Chi House, the long-term housing arrangement plan currently applicable to Blocks A to G of Wang Fuk Court will be formally available to Wang Chi House.
A Government spokesman said that the feedback from Wang Chi House owners has been encouraging and positive, reflecting that the long-term housing arrangement plan offered by the Government is attractive and can effectively assist owners in resolving the various uncertainties and complexities that they are facing. These include the difficulties in estimating the time needed before they can move back, handling the modification of the land lease and deed of mutual covenant, the burden of hefty maintenance costs and a potential sharp increase in management fees due to the possible need to source alternative contractors and management companies, the reluctance to move back to Wang Chi House as a result of the psychological distress caused to some owners by the fire, as well as the depreciation of the property values and the hurdles in future property transactions. The plan offered by the Government allows owners to rebuild their long-term homes and start their new lives.
As for Blocks A to G of Wang Fuk Court, the spokesman said that a total of1 361 duly signed "Letters of Acceptance" have been received from the owners as of today, representing approximately78.4 per cent of the total number of units in the seven blocks. The acquisition work has been making good progress.
After selling their titles to the Government and receiving cash payments, owners of the eight buildings of Wang Fuk Court (Blocks A to H) can purchase their home in the market right away, or participate in the Special Sales Exercise dedicated for Wang Fuk Court owners and purchase a new subsidised sale flat (SSF) either through cash or the "Flat-for-Flat" arrangement. The flat selection priority under the Special Sales Exercise will be determined in batches according to the date on which the duly signed "Letter of Acceptance" from the owners is received by the Government. The deadline for the first batch is June 30, while that for the second batch is August 31. The flat selection priority for applicants within the same batch will be further determined by their sequence as drawn in a ballot.
The spokesman encouraged owners of Wang Fuk Court to sign and submit the "Letter of Acceptance" as soon as possible to secure the flat selection priority under the Special Sales Exercise. The spokesman also reminded owners who intend to sell their titles to return the duly signed "Letter of Acceptance" on or before August 31.
As the long-term plan is formally available to Wang Chi House, there will be slight adjustments to the Special Sales Exercise. On top of the approximately 3 900 units currently reserved, an extra 496 units will be added.
Those 496 additionally reserved units all come from the SSF projects of the Hong Kong Housing Society announced under the Special Sales Exercise. Among these, the number of units at the Pak Wo Road project in Fanling will increase by 200, bringing the total from 100 to 300, while the number of units at the Anderson Road Quarry Site project in Kwun Tong will increase by 296, bringing the total from 300 to 596 units.
Currently, the Housing Bureau is assisting owners who have signed and submitted the "Letter of Acceptance" to complete the Agreement for Sale and Purchase and the Assignment procedures. As for Wang Chi House, the Housing Bureau will arrange for owners of Wang Chi House accepting the Government's acquisition to sign the Agreement for Sale and Purchase on or before October 15. When signing the Agreement for Sale and Purchase with Wang Chi House owners, the Government will include a clause stipulating that, if fewer than three-quarters (75 per cent) of owners ultimately sign the Agreement for Sale and Purchase, the Government reserves the right to discontinue the acquisition, since the inclusion of Wang Chi House in the plan is premised on at least three-quarters (75 per cent) of owners wishing to sell.
The 2026-27 Budget has earmarked $4 billion for the acquisition of Blocks A to G of Wang Fuk Court. The estimated total acquisition cost for Wang Chi House is about $1 billion. The Government will seek additional funding approval from the Finance Committee of the Legislative Council.
The Engagement Team co-ordinated by the Housing Bureau will continue to maintain communication with Wang Fuk Court owners. If there are any enquiries, owners may contact their designated Engagement Team member or call the hotline at 2129 8133. Owners may also visit the dedicated website for the long-term housing arrangements for Wang Fuk Court (www.hb.gov.hk/wfc) for further details.
Source: AI-found images
