CEPA liberalization to offer more business opportunities in region
On July 29, the Hong Kong Special Administrative Region Government and the Central People’s Government (CPG) agreed on further services liberalization under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA).

With the approval of the CPG, Hong Kong and Guangdong will also implement a package of liberalization and facilitation measures on an early and pilot basis to enhance mutual economic and trade cooperation.

Anti-inflation measures proposed
On July 16, Hong Kong Chief Executive Donald Tsang announced a series of short-term relief measures to alleviate inflation. They involve the spending of US$1.41 billion from the government coffers.

Hong Kong lauded for aid efforts after quake
Vice President Xi Jinping of the People’s Republic of China ended his visit to Hong Kong on July 8 by meeting members of government departments that had taken part in search-and-rescue efforts in Sichuan after the May 12 earthquake.

He met with approximately 120 volunteer staff at the Government Flying Service hangar in Chek Lap Kok. The volunteers came from the Fire Services Department, the Government Flying Service, the Department of Health, the Food and Environmental Hygiene Department, the Water Supplies Department and the Information Services Department. A medical team from the Hospital Authority, which had treated quake victims, also was present.

Guangdong, Hong Kong hold cooperation meeting
Hong Kong’s Chief Secretary for Administration Henry Tang and Vice Gov. Wan Qingliang of Guangdong Province co-chaired the 11th Working Meeting of the Hong Kong/Guangdong Cooperation Joint Conference in Hong Kong on June 23.

The two delegations discussed a number of major cooperation areas and prepared for the 11th Plenary of the Hong Kong/Guangdong Cooperation Joint Conference, to be co-chaired by Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Donald Tsang and Guangdong Gov. Huang Huahua.

Anti-money laundering efforts recognized
Hong Kong’s efforts against both money laundering and financing of terrorism have been recognized in a mutual evaluation report published July 21 by the Financial Action Task Force on Money Laundering (FATF) and the Asia/Pacific Group on Money Laundering (APG).

The FATF is the international standard-setter on anti-money laundering and counter financing of terrorism (AML/CFT). The report was endorsed at a June FATF Plenary meeting and at this month’s APG annual meeting.

Third consultation launched on Companies Ordinance rewrite
The Hong Kong Special Administrative Region Government launched the third public consultation on the Companies Ordinance rewrite June 26. This phase of the the rewrite covers share capital, capital maintenance rules and statutory amalgamation procedures.

Development of new cruise terminal to be re-tendered
The Hong Kong Special Administrative Region Government announced July 9 it will re-tender for the development of a new cruise terminal at Kai Tak, with the government funding the site formation works and facilities required for the provision of necessary government services.

The government issued an open land tender for the new cruise terminal project in November 2007.

Guangdong, Hong Kong to increase cooperation on IP rights
The Guangdong/Hong Kong Expert Group on the Protection of Intellectual Property Rights agreed July 18 to jointly raise awareness of intellectual property (IP) after their meeting in Hong Kong.

At the meeting, the group’s seventh, officials reviewed the latest IP developments and concluded that many IP cooperation items in their regions had been successfully completed.