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The Government today (March 19) released a report on the public consultation exercise on Hong Kong's competition policy conducted between November, 2006, and February this year, which indicates there was support from the majority of respondents for the introduction of a cross-sector competition law in Hong Kong.
Last November, the Economic Development and Labour Bureau issued a public discussion document, entitled "Promoting Competition: Maintaining our Economic Drive", and invited views from stakeholders on the way forward for the implementation of Hong Kong's competition policy. By the end of the three-month consultation period, the bureau had received 114 written submissions, 60 pro forma submissions and a 1,200-signature petition.
Feedback received during the consultation period indicated significant support in the community for a cross-sector competition law and the establishment of a Competition Commission to enforce such law. Many respondents pointed out that anti-competitive conduct could occur in any sector and it would not be fair to target only certain individual sectors or industries for regulation. The Government has also received very useful views on other important aspects, including checks and balances that should be in place when implementing the law, as well as on the powers that should be vested with the Competition Commission and on the importance of protecting confidentiality of information. However, some respondents from the business sector (including some Small and Medium Enterprises (SMEs)) have expressed concerns that although the aims of such a law is to maintain a competitive environment, SMEs may become targets of complaints when the law is in place.
"In taking forward the legislative process, we will continue to engage the public, particularly the SMEs, and address concerns raised during the consultation period as far as possible. The Government is committed to drawing up a regulatory framework that suits Hong Kong and provides an environment for companies, big or small, to compete fairly," a government spokesman said.
The bureau will brief Legislative Council members on the details of the report at the meeting of Panel on Economic Services to be held next Monday (March 26).
The report on the feedback from the community is available at www.edlb.gov.hk.
Ends/Monday, March 19, 2007
Issued at HKT 17:42
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