62. Some Members have proposed making
a law on fair competition. Hong Kong has long been recognised
as the freest and most open economic entity. We will
endeavour to promote fair competition and adopt appropriate
measures according to the circumstances. These range
from the use of licensing conditions, contractual provisions,
codes of practice and administrative measures to legislation
for individual sectors. For example, we introduced competition
for the telecommunications industry in 1998 and successfully
promoted its development. Recently, we have been monitoring
the situation in the local fuel supply market and will
take suitable measures according to actual circumstances.
If there are other similar problems, we will deal with
them seriously on a case-by-case basis.