Hong Kong Fire Exposes Deep Flaws in Building Renovation Industry

A deadly fire in Hong Kong has ignited scrutiny of the city's troubled building renovation sector. Industry experts say the business is plagued by corruption and collusion. The recent blaze, the city's worst in decades, has highlighted long-standing problems. These include bid-rigging and rapidly rising costs, according to former insiders and analysts. They describe a "rotten" market where syndicates profit from the city's many ageing high-rise buildings. Official efforts to stop this collusive conduct have so far been weak and ineffective. The experts are now calling for a complete overhaul of the industry. They argue systemic change is needed to improve safety and fairness.