18
WEDNESDAY, FEBRUARY 17, 1993
"ANY UNWARRANTED ATTEMPT TO UPSET THE BALANCE OF SUSTAINING THE CORPORATIONS' COMMERCIAL VIABILITY ON THE ONE HAND AND DEMANDS FOR INCREASED MONITORING ON THE OTHER COULD AFFECT THEIR FINANCIAL VIABILITY AND CREDIT RATING, AND CONSEQUENTLY THEIR ABILITY TO FUND FURTHER IMPROVEMENTS AND EXPANSIONS, MR LEUNG SAID.
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MR LEUNG CONCLUDED THAT IN VIEW OF THE PRESENT EXTENSIVE EFFECTIVE MONITORING SYSTEM AND ONGOING REVIEWS AND IMPROVEMENTS IT, A COMPREHENSIVE REVIEW DID NOT APPEAR TO BE NEEDED.
AND
OF
OF
HOWEVER, HE HAS TAKEN FULL NOTE OF ALL SPECIFIC AREAS CONCERN RAISED AND WILL CONSIDER HOW FURTHER IMPROVEMENTS COULD BE MADE WITHIN THE NEXT FEW MONTHS.
SPEECH BY SECRETARY FOR TRADE AND INDUSTRY, MR TH CHAU, IN MOTION DEBATE ON FAIR TRADE POLICY
AT LEGISLATIVE COUNCIL TODAY (WEDNESDAY)
MR DEPUTY PRESIDENT,
COUNCIL
ABOUT A MONTH AGO, IN ANSWERING A QUESTION IN THIS RAISED BY MR LI WAH-MING ON THE SUBJECT OF TODAY'S DEBATE, I POINTED OUT THAT,
DURING THE DEBATE LAST OCTOBER ON THE GOVERNOR'S POLICY ADDRESS, DIAMETRICALLY OPPOSED VIEWS HAD BEEN EXPRESSED BY MEMBERS THIS COUNCIL ON HOW THE GOVERNMENT SHOULD APPROACH THE DEVELOPMENT A COMPETITION POLICY.
OF
OF
OR
THE VIEWS EXPRESSED BY MEMBERS TODAY ARE NO LESS DIVERGENT EVEN CONFLICTING. AT ONE END OF THE SPECTRUM, WE HAVE HEARD THAT GOVERNMENTAL OR LEGISLATIVE INTERVENTION WHICH WOULD RESULT IN A PROBABLY HUGE BUREAUCRATIC APPARATUS AND MORE RED TAPE AND WHICH WOULD DISTORT MARKETS AND THE ALLOCATION OF RESOURCES SHOULD NOT BE PURSUED SINCE IT WOULD STIFLE ENTERPRISE, REDUCE EFFICIENCY AND DAMAGE OUR ECONOMY. AT THE OTHER END OF THE SPECTRUM, VIEWS HAD BEEN EXPRESSED THAT MONOPOLISTIC TENDENCIES AND ANTI-COMPETITION PRACTICES ALREADY EXIST IN SOME SECTORS OF OUR ECONOMY, AND THAT ANTI-TRUST LAWS, MORE LEGISLATION ON CONSUMER PROTECTION AND FAIR TRADE LAWS SHOULD BE INTRODUCED AND A FAIR TRADE COMMISSION SHOULD BE SET UP ΤΟ GIVE CONSUMERS A FAIR DEAL.
IT 15 WORTH NOTING ONCE AGAIN THAT, AS IN THE CASE OF THE OCTOBER DEBATE, SUCH DIVIDED VIEWS ARE ALL ABOUT WHAT REGULATORY FRAMEWORK, OR WHAT MEANS, HONG KONG SHOULD ADOPT IN ORDER TO ENHANCE COMPETITION, BUT THAT THERE IS NO DISAGREEMENT ON WHAT OUR FUNDAMENTAL OBJECTIVE SHOULD PROTECTION,
BE, AND THAT TS TO GIVE CONSUMERS ADEQUATE
/I WOULD
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