The Consumer Council welcomes the passage of the Competition Bill in the Legislative Council as the Council has advocated for legislation to protect market competition since 1993.
The Council hopes the enactment of the competition law will facilitate market competition, prohibit price-fixing, market allocation and other practices that are anti-competitive and distort free competition, thereby promoting competitions in different sectors and businesses.
With market competition come cheaper prices, more choices, higher quality goods and better services, and consumers stand to benefit.
The Council envisages consumers benefitting from implementation of the law. With an enforcement agency in place to regulate against anti-competitive conducts of conglomerates with big market share or abuse of market power, it can bring about a fair market environment and foster competition, thereby forestalling aggravation of monopolization in the local market.
In regard to exemptions given to statutory bodies, the Council is of the view that the Competition Commission should review the exemption arrangements taking into account market situation and social development after the implementation of the law.
- 2012.06.15