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The Government today (November 6) began a three-month period of public consultation on the way forward for Hong Kong's competition policy.
Speaking at the launch of the discussion document, Promoting Competition – Maintaining Our Economic Drive, the Secretary for Economic Development and Labour, Mr Stephen Ip, said it was necessary to ensure that Hong Kong's competition policy was in step with the times.
"Hong Kong enterprises have always thrived in a competitive environment," Mr Ip said. "It is important for our economy and for our competitiveness that our competition policy is effective and in step with the times."
Mr Ip explained that in order to ensure the effectiveness of Hong Kong's competition regime, the Government had appointed the Competition Policy Review Committee (CPRC) in June, 2005, to review the existing policy and to make recommendations on the future direction.
He said the committee had recommended the introduction of a new, cross-sector competition law for Hong Kong, as well as the setting up of a regulatory body to enforce such a law.
He added that the Government was keeping an open mind as to the need for new regulation in this area and would welcome public views on the way forward.
Some of the key issues addressed in the discussion document are: whether Hong Kong should have a new competition law; whether such a law should apply to all sectors of the economy; and whether a new regulatory body should be established to enforce such a law.
"We will carefully study the public's views before deciding on how to take forward this issue," Mr Ip said, adding that the deadline for public comment was February 5, 2007.
"We will shortly organise a public forum to promote discussion of the key questions set out in the document and we look forward to wide participation in the discussion on how we might ensure an effective competition policy for Hong Kong," he added.
The discussion document is available from District Offices and on-line at www.edlb.gov.hk. Views may be submitted by e-mail to: competition@edlb.gov.hk or by post to the Economic Development and Labour Bureau at: 2/F, Main Wing, Central Government Offices, Lower Albert Road, Hong Kong.
Ends/Monday, November 6, 2006
Issued at HKT 16:46
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