The city's head judge on Wednesday said corruption erodes public faith in governments and the rule of law and discourages people from making investments.

Delivering a keynote speech at an anti-corruption symposium, Chief Justice Andrew Cheung said corruption was "the misuse of power" that led to "some not being subject or held accountable under the same rules", placing them above the law.

"Corruption erodes public faith in governments and institutions, where the rule of law is built on public trust," he said.

"Even the appearance of corruption, never mind corruption on a micro scale, will lead to the erosion of the public's belief in the rule of law. Therefore, if for no other reasons than the upholding of the rule of law in a society, it is vital that corruption be subject to continuing vigilance and efforts to combat it at all levels and in all forms."

He also argued against claims there were potentially economic benefits to corruption, calling such views "exceedingly short-term and narrow".

"Corruption is not merely the product of a bad institution, it actually helps create bad institutions," he said.

"Investors are likely to be discouraged by corruption from making investments, as they would prefer fair, transparent and competitive markets in order to protect their capital."