Tung Chee-hwa yesterday rejected a European Parliament report that voiced concern over the influence of tycoon Li Ka-shing and raised questions about the Judiciary. The report, released on Wednesday, claimed the SAR did not provide a level playing field for overseas business. The Chief Executive, speaking in Beijing, said: 'Hong Kong's economic freedom is one of the best in the world. It's the same or better than any of the advanced countries. Secondly, Hong Kong's rule of law, independence of our Judiciary, and the protection of human rights are also as good as any of these countries.' The report on Hong Kong, likely to be adopted by the European Parliament last night, said: 'A number of tycoons have an undue and dominant influence in certain sectors of Hong Kong's economy.' It called for 'fair competition laws' to level the playing field. 'The influence of the Li Ka-shing family on Hong Kong business life has been the subject of criticism from a number of sources within Hong Kong itself,' says the report, drafted by Irish Euro MP John Cushnahan. The Cheung Kong (Holdings) group, chaired by Mr Li, has dismissed the report's claims. Eden Woon Yi-teng, director of the General Chamber of Commerce, said the report was biased. 'I don't agree with what the report said about Hong Kong,' he said, adding that the economy 'operates according to normal business principles'. The chamber was not in favour of introducing legislation on fair competition, Mr Woon said. Democrat Fred Li Wah-ming said in Legco yesterday that he and colleague Sin Chung-kai had submitted a private member's bill on improving competition. It was being considered by Legco President Rita Fan Hsu Lai-tai. Mr Li said business people were protected by competition laws in Europe, but European businessmen had no such protection here. 'It is unequal.' He said anti-monopoly measures had been introduced in the telecommunications sector and should be extended to other sectors. Airport Authority chairman Victor Fung Kwok-king - the former chairman of the Trade Development Council - said Hong Kong had handled the issue of competition on a sectoral basis. 'A very good example of that is to look at what the Government has done with the telecoms sector,' he said. 'In fact, you might say there is too much competition, so we can deal with it on a sector by sector basis. I don't think for a small economy like Hong Kong there will be a need for an overall competition policy.'