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CEPA deal will expand access to mainland China services

A new agreement on trade in services, under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), will allow business and professionals in Hong Kong to enjoy greater access to mainland China’s growing services market, effective June 2016.

The agreement enhances the liberalization in both breadth and depth, extending the implementation of the majority of Guangdong pilot liberalization measures to the whole Mainland; reducing the restrictive measures in the negative list; and adding 28 liberalization measures in the positive lists for cross-border services as well as cultural and telecommunications services.

Under the new agreement, there are 153 sectors that the Mainland has fully or partially opened up to the Hong Kong services industry, accounting for 95.6% of all the World Trade Organization services trade sectors.

In respect of “commercial presence,” national treatment will be applied to Hong Kong in 62 sectors.

More information can be found on the CEPA website.

Hong Kong Chief Executive C.Y. Leung (back row, fourth from left) attends the signing ceremony for the Mainland and Hong Kong Closer Economic Partnership Arrangement agreement on trade in services at Central Government Offices in Hong Kong. Mr. Leung and other guests witnessed the signing of the agreement by Hong Kong Financial Secretary John C. Tsang (front row, left) and China's Vice Minister of Commerce Wang Shouwen (front row, right).

 


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