Two task forces will be set up under the Economic & Employment Council to review the approval processes and regulatory framework governing pre-construction property development activities and the retail industry.

At the council's third meeting yesterday, members discussed a report of the business facilitation subgroup. It will first conduct studies relating to the construction, real estate, entertainment and retail industries.

Members also exchanged views on the city's competition policy and deliberated on the implementation of the competition policy and feedback from the international community. 

The Competition Policy Advisory Group will monitor developments to ensure Hong Kong's competition policy continues to serve the city's interests.

On employment, members noted long-term unemployment deteriorated over last year due to SARS, but the situation had improved notably in the first half of this year amid the economic upturn.

Other topics discussed were measures to tackle illegal employment and help the middle-aged jobless, the long-term unemployment situation, and the latest economic situation and forecast.

For more details about the council's meetings, click here.