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The Competition Policy Advisory Group (COMPAG) launched its new website and published its fourth annual report today (October 2).

"Promotion of competition requires the concerted effort of the Government, the business community and the general public. COMPAG attaches great importance to enhancing the public's understanding of the Government's competition policy and its work in promoting competition," a Government spokesman said.

"The annual reports published by COMPAG have been the key communication tool. Henceforth, the COMPAG website, www.compag.gov.hk, provides an additional avenue for the public to learn about the Government's work in this area and provide feedback to the Government."

Continuing, the Government spokesman said, "Our policy is to promote competition to enhance economic efficiency and free trade, thereby benefiting consumers. We see competition as a means to achieving the said objective, not as an end in itself."

COMPAG was established in December 1997 under the chairmanship of the Financial Secretary to co-ordinate the Government's efforts in promoting competition, to review competition issues that have substantial policy or systemic implications, and to direct bureaux and departments on such matters. It promulgated the Statement on Competition Policy in May 1998.

"Government is fully committed to the promotion of competition. It is a government-wide responsibility and all bureaux and departments are required to give due regard to the competition angle in formulating policy and devising measures within their respective portfolios."

Details of the Government's initiatives to promote competition in various sectors and Government's follow-up actions to complaint cases are set out in the COMPAG Report 2001-2002. Printed copies of the Report are available at the Public Enquiry Services Centres of the District Offices. It is also accessible from the Internet at the COMPAG website: www.compag.gov.hk.

"In the coming year, COMPAG will continue to encourage new initiatives to promote competition."

End/Wednesday, October 2, 2002

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