EMERGENCY PRICE CONTROL NOT MULLED

The Government currently has no plan to implement price controls during times of emergency to ensure the price stability of essential livelihood commodities, Secretary for Commerce & Economic Development Edward Yau said today.

Mr Yau told legislators that there is also no plan to include certain types of supplies on the reserved commodities list.

He explained that, based on past experience such as the fifth wave of the epidemic, the adequate supply and stable price of goods could be effectively secured by ensuring sufficient and stable supply in the market.

Other effective means include reducing barriers and obstacles in the supply chain, effective dissemination of information, close co-operation with the Mainland Government and communication with the trade, he noted.

The commerce chief emphasised that Hong Kong is a highly open free port, and all commodities can be freely imported and exported to meet market demands promptly unless otherwise prescribed by law with sufficient policy justifications.

All bureaus and relevant departments will keep reviewing and monitoring closely the supply and demand of various essential supplies and market changes, in order to devise appropriate measures to stabilise supply in the market, Mr Yau added.

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