
Hong Kong's Competition Commission raided 11 offices and homes in operation 'Lens' targeting alleged bid-rigging, price-fixing, and market-sharing in VR equipment contracts worth HK$10 million for schools and non-profits.
AI-generated summary
Hong Kong's Competition Commission enforces fair competition laws and investigates anti-competitive practices such as bid-rigging and price-fixing in public and private sector contracts.
Hong Kong’s competition watchdog has raided 11 offices and homes over alleged bid-rigging for contracts to supply virtual reality (VR) systems to schools and non-profit organisations, with the deals valued at HK$10 million.
The Competition Commission revealed on Friday that it had secured warrants and searched the 11 premises, including those of several IT service and equipment providers, other firms and the residences of several suspects, in an operation the day before codenamed “Lens”.
The companies were accused of engaging in bid-rigging, price-fixing, market-sharing and exchange of competitively sensitive information when providing quotations for VR equipment and software installation services to various schools and non-profit organisations, the watchdog said.
The contracts were valued at around HK$10 million (US$1.3 million).
AI outlook — possibilities, not facts
The Competition Commission will refer the case for prosecution if sufficient evidence is found
Likely · Within weeks

The article uses cases such as Hengli Heavy Industry's early assembly of materials, Huawei's intelligent scheduling system, Gree's RFID technology, Midea's collaborative system, LONGi Green Energy's intelligent algorithm, and Geely's logistics system to demonstrate how private enterprises can respond to market personalization and order fragmentation through flexible production, improve efficiency, and seize market opportunities.
On the first trading day after the National Day holiday, the A-share banking sector was overall strong, with the Shenwan Bank Index rising 1.03%, and Industrial and Commercial Bank of China and Bank of China hitting record highs. Analysts believe that the rise in bank stocks stems from marginal improvement in fundamentals, stabilization of net interest margins, mitigation of asset quality risks, and increased attractiveness of dividend assets in a low interest rate environment, and is not a short-term speculation. Although the stock price has reached a new high, the average price-to-book ratio of the sector is only 0.6 times, and the valuation is still at a net-breaking state. Investors should clearly understand their expectations and conduct batch layout with dividends as the core source of income.
The People's Bank of China released its policy stance on the RMB exchange rate on October 8, clarifying the exchange rate formation mechanism, refuting accusations of exchange rate manipulation, emphasizing the decisive role of the market, pointing out that surpluses are not the main cause of exchange rate imbalances, and calling for multilateral consultations to resolve global imbalances.

Former Minister of Economic Affairs Kuo Chih-hui questioned Taipei Mayor Chiang Wanan’s political opinion on relocating Songshan Airport to build Taipei AI Park. He emphasized that any park planning must first answer three questions: industrial positioning, transportation and life carrying capacity, and industrial cluster formation. He also advocated that Taiwan needs a national strategy to allow AI technology to flourish everywhere and drive industrial upgrading across the country, rather than simply adding AI parks in downtown Taipei.

The Bank of England, the Bank of England, announced that the Atlantic puffin, barn owl, yellow-tailed bumblebee and European hedgehog will appear on the redesigned pound banknotes in the future, replacing the portraits of historical figures such as Churchill and Austin. A total of 478,531 people participated in the vote, and the yellow-tailed bumblebee received the highest vote.

During the National Day holiday, the single-day passenger arrivals and departures of Guangzhou South Railway Station exceeded 1.049 million, becoming the first railway station in the country with a single-day passenger flow of over one million. A total of 5.5943 million passengers arrived and departed during the holidays, a year-on-year increase of 7.4%. The cross-border passenger volume of the Guangzhou-Shenzhen-Hong Kong high-speed rail reached 135,000, a year-on-year increase of 1.7%. The article points out that the increase in passenger flow reflects the improvement in transportation level and regional development vitality in the Guangdong-Hong Kong-Macao Greater Bay Area, and mentions the progress of major projects such as the Shenjiang Railway and the Hongqili Waterway Road-Rail Bridge closure.