As we all know, Hong Kong is an international city, there are different kinds of trades in Hong Kong. To tycoons, Hong Kong is a good place as it provides them with a large market, while to some local businessmen, Hong Kong is also good as all people can have their freedoms to start business. To make competitions fairer, the competition law should be introduced.

The competition law is especially beneficial to the small companies, which can protect them against any monopolies by big companies. This can minimize the chances of closing down of small businesses, thus ensures a diversity of goods and services to customers.

Yet, the article mentioned that some tycoons may oppose the Law, as it seems that the Law would limit the degree of their trades. However, I believe that the Law is also beneficial to these big companies and they can be protected against other big companies of the same industry (as most likely the market is oligopolistic).

As customers, we can also have more choices from more firms. Moreover, when there is competition, the firms will seek for ever greater perfection to make their products more competitive. This results in an improvement of qualities. As long as the products are being improved, local products will be more competitive and a bigger overseas market will result.

As what the article has mentioned, some lawmakers opposed the competition law because of the draconian penalties. I believe that how much should be the penalty can be discussed later when the competition law is being introduced. And I think a high penalty can actually prevent any unfairness in the industry. Yet, we should consider the companies and I think the practice in Britain can act as a reminder for Hong Kong. We can consider the percentage of global turnover when deciding the penalties.

It is urgent to enact the competition law in Hong Kong. By providing a