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The Industry Department's inward investment programme is designed to attract overseas investors who can bring useful and relevant technologies to Hong Kong.
I note the support for the construction of a science park. As Honourable Members know, we have completed a consultancy study report and are consulting interested parties. We look forward to discussing this project with the Trade and Industry Panel of this Council later this month.
Some Honourable Members also asked for greater co-operation with China to help develop Hong Kong's industrial technology. This is already happening. We have established an Applied Research Council to support joint applied research and development projects between Hong Kong entrepreneurs and major research institutes in China. During my visit to Beijing last month, I discussed with State Councillor Song Jian, who is the Chairman of China's State Commission on Science and Technology, the possibility of encouraging and facilitating further co-operation between Hong Kong entrepreneurs and Mainland scientists; and, with his enthusiastic support, I am optimistic about the prospects for such co-operation.
Turning to competition policy, I should like to stress once again that the Government is fully committed to the promotion of competition, which is the best Where guarantee of economic efficiency and reasonable prices for consumers. necessary, we will use appropriate and pragmatic measures to rectify any unfair business practices, safeguard competition and protect consumer interests.
As Honourable Members are aware, we have provided funds to the Consumer Council to conduct a series of sector-specific studies on competition. So far, studies on banks, supermarkets and gas supply have been completed. The Government has responded, positively and constructively, to these reports and already provided responses to the studies on banking and the supermarket industry. Our response to the report on the domestic water heating and cooking fuel markets will be ready early next year. The Consumer Council will complete studies on telecommunications, broadcasting and the residential property market by the end of this year. The Consumer Council's study on the overall state of competition in Hong Kong is expected to be completed in early 1996.