New Liberal Trade Services Set

The Agreement Concerning Amendment to the Mainland & Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services will be implemented on June 1.

The Hong Kong Special Administrative Region Government and the Ministry of Commerce signed the measure last year.

The amendment agreement was signed to further enhance the Mainland's level of liberalisation on trade in services for Hong Kong and lower the market access thresholds in the Mainland for Hong Kong services suppliers for more participation in the development of the Mainland market.

It introduces new liberalisation measures in a number of important services sectors such as legal services, construction and related engineering services, financial services, testing and certification, television and motion pictures.

The measures make it easier for Hong Kong service suppliers to set up enterprises and develop business in the Mainland, allow more Hong Kong professionals to obtain qualifications to practise in the Mainland and provide more of Hong Kong's quality services to the Mainland market.

The liberalisation measures include removing or relaxing restrictions on equity shareholding, capital requirements and business scope in the establishment of enterprises; relaxing qualification requirements for provision of services by Hong Kong professionals; and relaxing geographical and other restrictions for Hong Kong's exports of services to the Mainland market.

The Hong Kong SAR Government said the implementation of the amendment agreement enables the trade to utilise CEPA in gaining greater access to the Mainland market, adding that it will continue to promote CEPA’s development and assist the trade in capitalising on the opportunities.

To offer assistance to the trade on a one-stop platform, the Trade & Industry Department has set up a dedicated website on CEPA which provides an information database on services organised by sectors.

Call 2398 5667 or send an email to [email protected] for enquiries.