Hong Kong's competition watchdog has updated its tender clauses to combat bid-rigging. Bidders must now make a statutory declaration affirming they have not engaged in collusion. This move, prompted by a deadly fire linked to substandard maintenance work and suspected bid-rigging, aims to criminalize such practices with potential penalties of up to 10 years imprisonment. AI
RANK_REASON Significant policy change by a regulatory body impacting procurement practices. [lever_c_demoted from significant: ic=1 ai=0.0]
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