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(# We also note that HKTI's tariffed rates for international private line halfcircuits between Hong Kong and the United States compare favorably with rates for private line halfcircuits between other Asian and South Pacific markets and the United States. For instance, in April, 1998, HKTP's monthly rate for a 1.544 Mbps private line halfcircuit between Hong Kong and the United States was approximately $41,000. KDD's monthly rate for a such a private line half circuit between Japan and the United States was about $47,000, and Telstra's  S'rate for the same type of AustraliaU.S. half circuit was approximately $52,000.?~2 yO. 'ԍXLynx Global Telecom Database, Tariffed International Private Line Rates, April 1998. Rates quoted in foreign currencies: Hong Kong HK$320,000; Japan  6,220,000; Australia Aus$78,800.(# The rates charged by HKTP are, in fact, lower than rates charged by other operators in the region that face competition for the same type of private line halfcircuits. We therefore find, contrary to New T&T's assertion, that HKTP's continued monopoly on international private line circuits does not result in prices which, in effect, deny carriers in Hong Kong equivalent resale opportunities.  S ' ` `  b. Competitive Safeguards  S '30.` ` II.B.2.B.The third factor we examine is whether safeguards exist in the foreign market to protect against anticompetitive practices. The safeguards we consider important include: (1) the existence of costallocation rules to prevent crosssubsidization; (2) timely and nondiscriminatory disclosure of technical information needed to use, or interconnect with, carriers' facilities; and (3)  S0'protection of carrier and customer proprietary information.@02 {O'ԍXForeign Carrier Entry Order, 11 FCC Rcd at 3893,  5153.(#  S'31.` ` II.B.3.A.The first issue we consider is whether Hong Kong maintains sufficient costallocation rules to prevent crosssubsidization. Section 17 of HKTI's license requires it to implement "such accounting practices as specified by the Authority." Sections 18 and 19 provide OFTA the authority  Sh'to audit HKTI's accounts._Ahh 2 {Op'ԍXHKT Amended License,  1719.(#_ HKTP also states that the HKT companies are required to comply with OFTA's cost allocation manual and submit regular reports and are subject to an annual independent audit. These requirements are intended to allow OFTA to evaluate the financial viability of the HKT companies, to ensure that the HKT companies are engaging in fair competitive practices, and to ensure  S'that the HKT companies meet service obligations.hB 2 yOb#'ԍXHKTP Application at 1415, Opposition at 1214.(#h New T&T argues that recent actions by the Hong Kong Government have removed any structural separation requirement from the HKT companies and  Sx'that this action will lead to greater opportunities for crosssubsidization.rCx 2 yO&'ԍXNew T&T Petition to Deny at 16, Reply to Opposition at 6.(#r New T&T also states its"xC,`(`(88"  S'concern that OFTA will not effectively enforce the requirements it places on the HKT companies.ZD2 yOh'ԍXNew T&T Petition to Deny at 16. (#Z WorldCom and MCI object that HKTP has provided insufficient information on the costaccounting rules applicable to the HKT companies for the Commission to determine whether sufficient safeguards  S'are in effect to prevent crosssubsidization.EX2 yO'ԍXMCI Petition to Deny at 5, Reply to Opposition at 4; WorldCom Petition to Deny at 12.(#Ǝ  S8'32.` ` We find that the cost allocation measures currently in place in Hong Kong should ensure that U.S. carriers have equivalent resale opportunities. After reorganization, the HKT  S'companies will be permitted to "jointly and severally" provide external services.\F2 {Op 'ԍXSee Policy Statement,  7.(#\ Contrary to New T&T's assertions, we find that this action does not necessarily open the way for anticompetitive cross subsidies. Although the Commission has found that structural separation is an effective tool at  Sp'preventing crosssubsidy, it is by no means the only means of doing so.Gpz2 {O'ЍXIn the LEC Regulatory Treatment Order, the Commission removed the structural separation requirement  {OT'that previously applied to BOC provision of interLATA services outside its region. See Regulatory Treatment of LEC Provision of Interexchange Services Originating in the LEC's Local Exchange Area  {O'and Policy and Rules Concerning the Interstate, Interexchange Marketplace, Second Report and Order in CC Docket No. 96149 and Third Report and Order in CC Docket No. 9661, 12 FCC Rcd 15,756,  {Ox'15,87378,  206213, recon., 12 FCC Rcd. 8730 (1997) (LEC Regulatory Treatment Order).(# OFTA has adopted cost allocation requirements that are applicable to the new corporate structure that include detailed accounting and reporting requirements. These requirements are designed to guard against anticompetitive practices such as improper crosssubsidies. OFTA maintains the right to audit the accounts of all of the HKT companies and each are subject to the requirements of OFTA's cost  S 'allocation manual. We also note that the HKTC is required to tariff its retail offerings at fully distributed cost, and that OFTA has stated that it will "look carefully" at prices that are below fully  SX'distributed cost.HX 2 yO'ԍXFully distributed cost is a measure of costs that allocates all costs of an enterprise to specific services, including all fixed costs.(# Because OFTA requires that retail services are priced at fully distributed cost, it is unlikely that crosssubsidization would be a successful strategy for HKT to gain an advantage over its  S'competitors.IR 2 yO'ԍXCross subsidization is unlikely because prices for an incumbent's service that are set at a level greater than fully distributed costs are unlikely to result in anticompetitive effects. At such a level, competitors will be able to match or even slightly undercut the incumbent's prices, while continuing to earn a profit  {OR!'on the services at issue, thus removing the danger of predatory pricing by the incumbent. See Phillip  {O"'Areeda and Donald F. Turner, Predatory Pricing and Related Practices under Section 2 of the Sherman  {O"'Act, 88 Harv. L. Rev. 697 (1975).(#Ư  S' 33.` ` II.B.3.B.We next address whether competitive safeguards exist in Hong Kong to ensure the disclosure of network information required for interconnection. We note that HKT is required to disclose network information to other licensees upon request, and that HKT may not make any material changes to the network that affect interconnection to the network without the prior consent of"@I,`(`(88"  S'OFTA, and that it is required to give notice to operators likely to be affected by such changes.wJ2 {Oh'ԍXSee HKT Amended License, General Condition 27, 29.(#w We also note that no party filing comments in this proceeding has voiced concern regarding the disclosure of technical information necessary for interconnection. In light of the network disclosure requirements and lack of specific evidence to the contrary, we find that there are adequate requirements in Hong Kong to ensure that carriers receive the technical information required for interconnection.  S'!34.` ` Finally, we examine whether there are adequate measures to protect proprietary customer and carrier information. HKT and all other FTNS licensees are prohibited from disclosing the information of a customer without consent except where necessary for law enforcement purposes  S'or as authorized by law.YKZ2 {O 'ԍXGuidance Note at 11.(#Y In addition, Hong Kong is bound by its WTO Commitments to ensure that information obtained by competitors in the course of providing interconnection or other services is not used for anticompetitive purposes. No party filing comments in this proceeding has voiced concern regarding the release of proprietary information. In light of the above safeguards, we find that the applicable restrictions on release of customer and carrier information applicable to HKT are sufficient to prevent disclosure of proprietary information.  S '` `  c. Existence of Effective Regulation  S0'"35.` ` II.B.2.C.The fourth factor we review is whether there is an effective regulatory framework in Hong Kong to develop, implement, and enforce legal requirements, interconnection agreements and other competitive safeguards. The focus of this factor is on whether there is separation between the  S'foreign regulator and the operator of international facilitiesbased service.L2 {OD'ԍXForeign Carrier Entry Order, 11 FCC Rcd at 3894,  5455.(#  Sh'#36.` ` We find that an effective regulatory regime does exist in the Hong Kong market. OFTA, established in 1993, serves as the executive arm of the Telecommunications Authority and the  S'statutory body charged with the regulation of the telecommunications sector in Hong Kong.M~2 yO6'ԍXFor a brief description of OFTA's role in the Hong Kong market, see http://www.ofta.gov.hk/role.html.(#ƞ OFTA is an independent government body that is separate from the HKT companies, which are controlled by  S'Cable & Wireless plc.UN2 {Ov'ԍSee supra   C&W2 .U We also note that the Commission staff has recognized that adequate regulatory authority exists in Hong Kong to block any impediments to competition in the wireless  Sx'market.Ox2 {O"'ԍXWestern Wireless Corp., et al., ISP97003, Order, 13 FCC Rcd 64 (1997).(#Ƈ  S('$37.` ` New T&T argues that OFTA is not an effective regulator in disciplining the former  S'monopoly operators.XP2 2 yO&'ԍXNew T&T Petition to Deny at 17.(#X It argues that the Western Wireless order is not a valid precedent for the" P,`(`(88["  S'proposition that OFTA exercises sufficient regulatory authority to ensure that there are not de facto  S'barriers to entry in the ISR market. New T&T also argues that OFTA's "commitment to regulate with a light hand" raises concerns about OFTA's ability to take firm, proactive measures to prevent  S'anticompetitive conduct by HKTP and its affiliate.ZQ2 yO'ԍXNew T&T Reply to Opposition at 7.(#Z New T&T concedes, however, that earlier this year, OFTA issued a directive against HKT's alleged anticompetitive and discriminatory practices that  S:'had been "previously unchecked by the regulator until April 1, 1998."PR:X2 yO2'ԍXNew T&T Petition at 19.(#P We find, moreover, that recent measures undertaken by OFTA indicate that it does, indeed, have the ability and willingness to  S'take firm measures in the face of anticompetitive conduct. SD2 {Or 'ԍXSee e.g., OFTA Press Release: Telecommunications Authority Takes Regulatory Action  {O< 'Against Anti-Competitive Practices of Hong Kong Telecom, (June 29, 1998) available at http://www.ofta.gov.hk/press/pr98.html#fm29 (imposing the maximum statutory penalty on HKT for anticompetitive marketing practices). OFTA, "Determination under Section 36A of the Telecommunication Ordinance for Interconnection Between Hong Kong Telephone Company Limited and New T&T Hong Kong Limited," Statement of the Telecommunication Authority (August 21, 1998), available at http://www.ofta.gov.hk/tas/interconnect/ta980821.html (setting interconnection rates retroactive to 1995).(#   S'%38.` ` New T&T also argues that the lack of a general competition law in Hong Kong will allow HKTP and its affiliates to engage in anticompetitive tactics against its competitors. It also cites the 1998 National Trade Estimate Report on Foreign Trade Barriers ("Foreign Trade Barriers Report") as evidence that the U.S. Government has recognized that lack of a comprehensive competition law  S 'may pose a trade problem.XT 2 yO'ԍXNew T&T Petition to Deny at 16.(#X Although Hong Kong lacks a general competition law, the Telecommunications Ordinance gives OFTA substantial powers to regulate the telecommunications  S 'sector and take action in the case of anticompetitive conduct.U 2 {O'ԍXSee Letter from A. S. K. Wong, DirectorGeneral of Telecommunications, Office of the Telecommunications Authority, Hong Kong to William Kennard, Chairman, FCC, 34 (April 29, 1998).(# We therefore find that the regulatory  S 'regime in Hong Kong is sufficient to preclude anticompetitive actions that could serve as de facto barriers to entry into the switched data and fax market in Hong Kong.  S '&39.` `  II.A.4.  MARKET We also recognize that the Hong Kong government has taken significant steps to end HKTI's monopoly and introduce competition into the international marketplace. We find that the potential for oneway bypass of granting HKTP's authorization is limited by the positive regulatory  S'climate in Hong Kong as well as the market opening steps taken by the Hong Kong Government.V2 yO#'ԍXOFTA has announced it will allow full ISR on January 1, 1999 and has stated that it will allow unlimited entry into the voice ISR market at that time and into the international facilities market when  {O$'HKTI's monopoly expires in 2000.  See Information Technology and Broadcasting Bureau of the  {Ol%'Government of the Special Administrative Region of Hong Kong, Considered View: The 1998 Review of  {O6&'Fixed Telecommunications (3 September, 1998), available at http://www.ofta.gov.hk/report-paper-guide/paper/consultation/rev-ftn.pdf.(#Ɨ "\V,`(`(88!"Ԍ S'ԙ C.  EQUIV2 Market Entry Analysis  S'  S' ` ` 1. Impact on Competition in the U.S. Market  S`''40.` `  II.C.  II.C.1. In the Commission's recent Foreign Participation Order, it articulated a new standard to govern authorization of foreignaffiliated telecommunications carriers that seek to enter the U.S. market and provide service to the affiliated market. The Commission adopted a presumption in favor of entry that can only be rebutted by a showing that entry by the foreign carrier would pose a very  S'high risk to competition in the United States.W2 {O* 'ԍXForeign Participation Order, 12 FCC Rcd at 23,91317,  5058.(#Ƅ In order to pose a very high risk to competition, a carrier would have to have the ability to raise the costs of its U.S. rivals notwithstanding the  Sr'applicability of the Commission's competitive safeguards.BXrZ2 {Ol 'ԍXId.(#B  S" '(41.` ` New T&T argues that HKTP poses a very high risk to competition in the United  S 'States by virtue of its monopoly control over essential facilities in the foreign market.[Y 2 yO'ԍXNew T&T Petition to Deny at 2021.(#[ We note that  S 'HKTP has agreed to be subject to the Commission's dominant carrier regulatory regime.Z |2 {O'ԍXSee HKTP Application at 2122; See also Foreign Participation Order, 12 FCC Rcd at 23,98724,022,  yO' 21592.(# We also note that it is subject to the Commission's ISR safeguard, which requires the Commission to take  S 'enforcement action if it detects oneway bypass occurring.[ 2 {O'ԍXSee Benchmarks Order, 12 FCC Rcd at 19,91924,  249259. Under the Commission's ISR safeguard, the Commission will take enforcement action in the event it detects that oneway bypass is occurring. It adopted a presumption that oneway bypass is occurring if the ratio of outbound to inbound settled traffic increases by 10 or more percent during two successive quarterly reporting periods. In such an event, enforcement action could include a requirement that carriers be prohibited from using their authorizations to provide switched services over private lines until settlement rates for at least 50 percent of the settled U.S. billed traffic on the route are at a level equal to or below the Commission's best  {Or'practices rate of $.08 adopted in the Benchmarks Order, or a revocation of carriers' authorization to  {O<'provide service. See Id.(#  S2')42.` ` New T&T has offered no evidence that these safeguards will be ineffective in insuring that HKTP and its affiliates are unable to leverage their market power into the U.S. market to the detriment of U.S. consumers, and we find no basis for such a concern. We therefore find that concerns of anticompetitive conduct in the U.S. market do not justify denying HKTP's authorization to provide switched data and fax ISR in the U.S. market.  SB' ` ` 2 . Additional Public Interest Factors  S'*43.` `  II.C.2. TheTHE additional public interest factors that we consider in assessing HKTP's application include the general significance of the proposed entry to the promotion of competition in the U.S. communications market and any national security, law enforcement, foreign policy, and trade concerns"[,`(`(88("  S'raised by the Executive Branch.\2 {Oh'ԍXForeign Participation Order, 12 FCC Rcd at 23919,  6166. (#Ɓ   S' +44.` ` Several parties argue generally that granting HKTP's application is contrary to the public interest for a number of reasons. We find no merit to these arguments.  S8',45.` ` WorldCom states that granting HKTP's application to provide nontelephonic ISR will  S'serve as a disincentive for Hong Kong and other governments to take further marketopening steps.a]XZ2 yO 'ԍXWorldCom Petition to Deny at 7 (Granting HKTP's application "would send the unfortunate message to other countries that the Commission believes it is sufficient to allow limited ISR rather than permitting unfettered resale of international private lines for the provision of switched services.").(#a We disagree. Hong Kong has recently taken significant liberalizing steps toward opening its market  S'and deregulating telecommunications services.m^z2 {O 'ԍXSee HKTP Opposition to Petitions to Deny at 3.(#m We are encouraged by the actions taken in Hong Kong to end HKT's monopoly and allow full international resale competition on January 1, 1999 and  Sp'facilitiesbased competition in 2000.B_p 2 {O'ԍXId.(#B Indeed, we find that the regulatory authority in Hong Kong, OFTA, has taken significant steps to introduce competition in Hong Kong to the extent allowed within the confines of HKT's exclusive license. In light of these steps taken by the Hong Kong government, we find that refusing to grant HKTP's application would do little to further the public interest in encouraging competition in foreign telecommunications markets.  S '-46.` ` BT argues that it would be "unfair" to grant HKTP's authorization before competition is allowed for all services in Hong Kong. It argues that because HKTP and its affiliates may provide all private line communications requirements from Hong Kong, and U.S. carriers may provide only "nontelephonic" services, U.S. carriers would face an "insurmountable competitive disadvantage" in Hong Kong. We recognize that HKTI's continued monopoly on international voice services that lasts until January 1999 may provide it a shortterm advantage because only HKTI may provide international service. We find, however that an allornothing approach to authorizing ISR would fail to provide U.S. consumers with the benefits of the incremental approach to liberalization that Hong Kong is taking. Further, we find that granting this servicespecific application is appropriate under  S'these circumstances because of the procompetitive moves taken by the Hong Kong Government. We note that Hong Kong Government has recently issued its "1998 Review of Fixed Telecommunications," in which it declined to set limits on the number of ISR or fixed network licensees. We find that these actions indicate a commitment on the government of Hong Kong to a robustly competitive telecommunications market in Hong Kong. We therefore find BT's argument unpersuasive.  S'.47.` ` We also find little merit to WorldCom's claim that granting HKTP's authorization would undermine the Commission's settlement policies. WorldCom states the Commission retained the equivalency policy in order to put pressure on abovecost settlement rates and that there is no indication that granting HKTP's authorization will have a significant effect in lowering settlement"_,`(`(88"  S'rates.P`2 yOh'ԍXWorldCom comments at 7.(#P WorldCom misinterprets Commission policy. Both the benchmarks condition and the  S'equivalency analysis are designed to guard against oneway bypass.}aX2 {O'ԍXForeign Participation Order, 12 FCC Rcd at 23,93031,  85.(#} The Commission retained the equivalency test as an alternative to the benchmarks condition because it found that satisfaction of the equivalency test would eliminate any concern about oneway bypass, and because allowing ISR on the  S`'route would bring public interest benefits.Bb`2 {O'ԍXId.(#B The Commission has indeed stated that one of the public interest benefits of allowing ISR is to lower international settlement rates. The broader goal of the Commission's ISR policy, however, is to put downward pressure on abovecost rates by allowing ISR  S'as an alternative to existing highrate services.yc|2 {O 'ԍXfONOROLA Reconsideration Order, 9 FCC Rcd at 4040,  8.(#y By lowering the cost of terminating fax/data ISR traffic, we expect consumer rates to decrease for these services on the U.S.Hong Kong route as rates  S'in general have decreased on other routes where the Commission has allowed ISR.d2 yOF'ԍXFor example, accounting rates have fallen in the following ISRapproved countries:(#  yO'` `  PreISRhhCq1998  yO'Canada` `  28/24 (1992)hhCq20/12  yO'U. K.` `  0.33 SDR (1994)q0.1 SDR  yOf'Sweden` `  0.12 SDR (1996)q0.09 SDR  yO.'New Zealand 0.3 SDR (1996)hhCq0.2 SDR  yO'Australia 0.308 SDR (1997)q0.22 SDR X"Accounting Rates for International Message Telephone Service of the United States" FCC, International Bureau, Telecommunications Div., September 1, 1998.(#   SH '/48.` ` TheTHETHE Executive Branch has not raised any national security, law enforcement, foreign policy, or trade concerns with this application. We are confident that this authorization will benefit U.S. consumers sending data and facsimiles to Hong Kong by increasing competition to that market. Moreover, it will put additional pressure on Hong Kong collection rates, at least for data and fax service, thereby stimulating inbound U.S. traffic from this market, and ultimately put additional pressure on Hong Kong accounting rates. We accordingly find it in the public interest to permit HKTP to enter the international private line resale market for the provision of switched data and fax services on the U.S.Hong Kong route.   S' D. Enforcement  S'  Sh'049.` `  II.D.  ENFORCE1 Several of the parties opposing HKTP's application argue that granting HKTP's authorization to provide switched data and fax service over private lines would create severe enforcement problems and that there is a significant danger that voice traffic will be carried over"nd,`(`(88"  S'private lines in violation of Commission policy.e2 {Oh'ԍXSee, e.g., AT&T Petition to Deny at 4; BTNA Petition to Deny at 5; WorldCom Petition to Deny at 7.(#ơ HKTP states in its application that OFTA has required PNETS ISR licensees to use currently available equipment to differentiate between speech, data and facsimile traffic and will disconnect a call if it determines that it is carrying voice traffic, regardless if the call originates or terminates in Hong Kong. OFTA has also required PNETS ISR licensees to prohibit customers, as a condition for service, from using the service for voice  S8'communication.sf8Z2 {O2'ԍXHKTP Application at 67 (citing Guidance Note at 2).(#s  S'150.` `  ENFORCE2 We find that restricting ISR licensees serving Hong Kong to providing nonvoice service only does not pose insurmountable enforcement issues. We are concerned that carriers providing data/fax ISR between the United States and Hong Kong may seek to route voice traffic over private lines, resulting in oneway bypass of the settlements system. We therefore adopt the same requirement adopted by OFTA that carriers providing data/fax ISR prohibit customers from using the data/fax ISR service to carry voice traffic. We will accordingly require that U.S. carriers providing data/fax ISR undertake measures to ensure that voice traffic is not carried over private lines. We require that U.S. carriers providing data/fax ISR to Hong Kong certify that the entity terminating the traffic in Hong Kong has installed the type of discrimination equipment prescribed by OFTA. We note that no party in this proceeding has alleged that the discrimination equipment prescribed by OFTA does not work as intended. Further, we expect that existing U.S. carriers will monitor traffic on the U.S. Hong Kong route and alert the Commission if irregularities occur. These measures, along with OFTA's record as a regulator willing to take action in the event its rules are violated, give us confidence that the risk is slight that the U.S. public interest will suffer due to the substantial illegal diversion of voice traffic onto data/fax ISR lines. If the Commission becomes aware of such diversion in violation of conditions to this authorization, it will not hesitate to take appropriate action.  S@'C III. CONCLUSION  S' 251.` `  III. Because we find that the Hong Kong offers equivalent private line resale opportunities to U.S.based carriers for the provision of switched facsimile and data services, we grant the application before us in this proceeding. We conclude that the availability of additional services between the United States and the Hong Kong will promote competition and the introduction of new international telecommunications services.  S('  S'w)IV. ORDERING CLAUSES ă  S'352.` ` IV.In view of the foregoing, IT IS HEREBY CERTIFIED that the present and future public convenience and necessity require grant of this application N%qx ; N%qx   S8'453.` ` Accordingly, IT IS HEREBY ORDERED that File No. ITC98196 IS GRANTED and Hong Kong Telecommunications (Pacific), Limited is authorized to resell international private lines interconnected to the public switched network for the provision of switched facsimile and data services only;  Sp#'554.` ` IT IS FURTHER ORDERED that the authority granted herein to resell international"p#f,`(`(88n"" private lines between the United States and Hong Kong for the provision of switched facsimile and data services only is limited to the provision of such services between the United States and Hong Kong only that is, private lines which carry traffic that originates in the United States and terminates in Hong Kong, or traffic that originates in Hong Kong and terminates in the United States. This restriction is subject to the following exception: Hong Kong Telecommunications (Pacific), Limited may engage in "switched hubbing" through Hong Kong for switched facsimile and data services only  S'consistent with Section 63.17 of the Commission's rules, 47 C.F.R.  63.17;  S'655.` ` IT IS FURTHER ORDERED that the authority granted herein to resell international private lines between the United States and Hong Kong is limited to the provision of switched facsimile and data services only, and that authorized carriers certify that the entity terminating or originating the traffic in Hong Kong has installed discrimination equipment to distinguish between voice and data traffic as prescribed by the Telecommunications Authority, Hong Kong. The authority granted herein is also conditioned on the authorized carrier prohibiting its customers from using authorized private lines to carry voice traffic;  S ' 756.55` ` 87DOMIT IS FURTHER ORDERED that Hong Kong Telecommunications (Pacific), Limited will be regulated as a dominant carrier on the U.S.Hong Kong route, pursuant to Section 214 of the Act, 47 U.S.C.  214, and Section 63.10 of the Commission's rules, 47 C.F.R.  63.10, and will comply with the requirements of paragraph (c) of that section. The quarterly traffic reports filed pursuant to Section 63.10(c) must include the information required by Section 43.61 of the Commission's rules, 47 C.F.R.  43.61, for "facilities resale" on the U.S.Hong Kong route N%qx ; N%qx   Sh'857.` ` IT IS FURTHER ORDERED that Hong Kong Telecommunications (Pacific), Limited will comply with Sections 63.21 of the Commission's rules, 47 C.F.R.  63.21, and shall also file the information required by Section 43.61 for "facilities resale" on the U.S.Hong Kong route on a semiannual basis not later than September 30 for the prior January through June period, and March 31 for the second sixmonth calendar period, for the first three calendar years after this equivalency finding N%qx ; N%qx   Sx'958.` ` IT IS FURTHER ORDERED that grant of this authorization is conditioned upon Hong Kong's continuing to afford resale opportunities to U.S.based carriers equivalent to those afforded under U.S. law for switched nonvoice services N%qx ; N%qx   S' :59.` ` This Order is issued under Section 0.261 of the Commission's rules, 47 C.F.R.  0.261 (1996), and is effective upon adoption. Petitions for reconsideration under Section 1.106 of the Commission's rules, 47 C.F.R.  1.106 (1996), or applications for review under Section 1.115 of the Commission's rules, 47 C.F.R.  1.115 (1996), may be filed within 30 days of the date of public notice of this Order, Authorization and Certificate (see 47 C.F.R.  1.4(b)(2)).  S ' ` `  hhCFEDERAL COMMUNICATIONS COMMISSION  SH$' ` `  hhCRegina M. Keeney ` `  hhCChief, International Bureau