Chinese Mainland and Hong Kong Signed Supplementary Agreement Ⅶ to CEPA
[2010-06-22 09:12:40]
Authorized by the State Council of China, on May 27, 2010, Jiang Zengwei, Vice Minister of the Ministry of Commerce of China, signed with Zeng Junhua, Financial Secretary of the Hong Kong Special Administration Region Government of China, Supplementary Agreement Ⅶ to Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) (Hereinafter referred to as Supplement Agreement Ⅶ to CEPA), which shall be formally implemented as of January 1, 2011.
On the basis of CEPA and its previous six supplementary agreements, Supplement Agreement Ⅶ to CEPA further expands the opening up to Hong Kong. In service trade, the Chinese Mainland shall take 27 specific measures in 14 areas in Hong Kong, and shall further relax control on market access, abolish restrictions on control of shares, and broaden business scope and premises based on the original opening commitment in the 12 areas of construction, medical treatment, audiovisual service, distribution, banking, securities, social services, tourism, entertainment, air transport, qualification examinations for professional technologists and individual business. At the same time, commitment in two areas of technical inspection analysis and inspection of the goods, and professional design has been newly added.
The signing of Supplement Agreement Ⅶ to CEPA will be beneficial for Hong Kong in consolidating its central position in international finance, trade and shipping, and developing modern service industry, and will also bring new vitality into the economy of Chinese mainland.
Source: ETCN
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