US investment bank Merrill Lynch issued a scathing report on Hong Kong last week, saying the bad air could negatively impact the property sector and was scaring off skilled global talent.

"Companies that are creating the pollution -- they should resolve their own problems," David Eldon, the head of the Hong Kong General Chamber of Commerce and a former Asia Chairman of HSBC Holdings PLC, said at a "Business for Clean Air" conference in the city.

"Why should the Hong Kong taxpayer put their own money into helping some company that's been making a lot of money already. This is a business issue, business needs to deal with it," he added.

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