Hong Kong, Mainland new supplemental CEPA pact signed
Supplement V to the Hong Kong-Mainland Closer Economic Partnership Arrangement (CEPA) has been signed, expanding the total number of services sectors covered from 38 to 40.
Startups Rush to Pave Way for Web VideoThe Mainland will introduce 29 liberalisation measures covering 17 service sectors, including two new sectors - services incidental to mining, and related scientific and technical consulting services.
The measures will come into force January 1, 2009.
Hong Kong and Guangdong will also implement a package of liberalisation and facilitation measures on an early and pilot basis to enhance mutual economic and trade co-operation.
More opportunities
Financial Secretary John Tsang and Vice-Minister of Commerce Jiang Zengwei signed the document today.
Witnessing the signing, Chief Executive Donald Tsang said the new package will open more opportunities for Hong Kong traders who wish to enter the Mainland market.
The measures will not only bring mutual economic benefits but will also create a solid platform for enhancing economic integration between the two jurisdictions, he said.
For conventions and exhibitions, enterprises formed by Hong Kong service suppliers on a wholly-owned, equity joint venture or contractual joint venture basis in Beijing, Tianjin, Chongqing and Zhejiang will be allowed to organise overseas exhibitions on a pilot basis.
In banking, any Mainland-incorporated banking institution established by a Hong Kong bank will be allowed to locate its data centre in Hong Kong, subject to the fulfilment of certain requirements.
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