A representative of an international economic organisation has defended Hong Kong's draft competition bill against its pro-business critics.
Frederic Jenny said yesterday that far from being too harsh or vague, the bill would be a 'complementary instrument to protect the market' rather than hinder it.
Speaking at a two-day competition law conference attended by international experts, Jenny, who leads the competition committee of the Organisation for Economic Cooperation and Development, comprising 34 member countries - said he was 'familiar with Hong Kong's opposition arguments'.
Critics say the current draft is too harsh, and vague enough to ensnare small and medium-sized businesses before it catches big conglomerates.
'Setting a general standard is more favourable to the businesses,' Jenny said. 'Singapore was another small country saying the same thing as well. But Singapore has a competition law now and it is happy with it.'
He said Hong Kong was one of the small places that said it did not need a competition law as it had an open and free market.
