The Government is committed to pro-actively nurture and sustain competition for the purpose of enhancing economic efficiency and free trade. We also expect them to ensure that all statutory bodies under their charge pay heed to the Statement as well. The Government calls upon all businesses to cease existing, and refrain from introducing, restrictive practices that impair economic efficiency or free trade on a voluntary basis. Where justified, the Government will take administrative or legal steps as appropriate to remove such practices if necessary. Alleged restrictive practices in the public and private sectors may be referred to the concerned policy bureau or government department for consideration.
Competition is a means to promoting economic efficiency and free trade.
It benefits business operators, consumers and the economy as a whole. Since 1993, the Government has provided funds to the Consumer Council to conduct a series of studies on the state of competition in various business sectors, including banking, supermarkets, gas supply, telecommunications, broadcasting and the private residential property market. The Government has responded positively to many of the Council's recommendations. The Government responded on 3 November 1997. We accepted the Council's recommendation to adopt a fair, transparent and comprehensive competition policy.