Hong Kong's Legislative Council this week struck down a motion to enact a comprehensive competition law framework and establish a tough competition watchdog.
Lee Wing-tat, who tabled the motion in the LegCo on Wednesday, said that a broad ranging competition law was needed in Hong Kong so that all industries are treated on a level playing field, rather than on a sector-specific basis.
"It is unfair if certain things are considered inappropriate in one industry but are accepted in other industries," Lee observed, adding that cross-sector laws employed in other countries are "the most effective" systems.
Lee also argued that a comprehensive competition law would benefit the Hong Kong economy by cracking down on unfair business practices such as price fixing, market sharing and bid-rigging.
Secretary for Economic Development and Labour Stephen Ip Shu-kwan has indicated that the government's policy on competition law will be reviewed through the independent Competition Policy Review Committee, set up in June.
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