***************************************************

The Competition Policy Advisory Group (COMPAG) published its fifth annual report today (July 2). In tandem with the Government's initiatives to promote e-Government, the Report is now published electronically and available online at the COMPAG website (www.compag.gov.hk).

"The Report sets out the work of COMPAG from April 2002 to March 2003. During this year, COMPAG considered seven initiatives adopted by the relevant government bureaux and departments in promoting competition in the telecommunication, securities trading, transportation, lift maintenance and other sectors. During the same period, COMPAG examined a total of fourteen complaint cases," a Government spokesman said.

COMPAG directs and advises all bureaux and departments on competition-related matters. They are required to give due regard to the competition angle in formulating policy and devising measures in their respective portfolios.

"One of the initiatives adopted by the Government in 2002-2003 was the development of guidelines to maintain a competitive environment and to define and tackle anti-competitive practices. The guidelines are developed with the support of the business sector and drafted with contributions from chambers of commerce and trade and industry organisations. COMPAG is finalizing the guidelines and plans to promulgate them by the end of 2003. COMPAG will encourage individual business sectors to develop their own codes of conduct on the basis of the guidelines," the spokesman added.

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. In May 1998, it promulgated the Statement on Competition Policy which sets out the Government's competition policy framework.

End/Wednesday, July 2, 2003

NNNN