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11
Economic and Trade Relations between the Mainland and Hong Kong
AndThe Mainland and Hong Kong Closer Economic Partnership Arrangement
(CEPA)
Ms. Joyce Tam, Acting Deputy Director-General of
Trade and Industry
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Close Economic Tie between Close Economic Tie between Mainland and HKMainland and HK
Trade Trade The Mainland is HK's largest trading partner, accounting for
47.5% of HK's total trade value in 2008. Hong Kong is the Mainland's third largest trading partner,
accounting for 8% of the Mainland's total external trade in 2008.
InvestmentInvestment HK is the Mainland's largest source of realised direct foreign
investment, accounting for about 40% of the national total as at June 2009.
The Mainland is HK's most important external investor. At end-2007, the stock of inward direct investment from the Mainland accounted for 40.7% of HK' s total.
Establishments in the Guangdong ProvinceEstablishments in the Guangdong Province More than 99,000 HK-invested enterprises have been approved
by the Guangdong Province at end‑2007. HK-related enterprises in the nine cities of the Pearl River Delta
of the Guangdong Province hired around 9.6 million employees.
33
CEPACEPA CEPACEPA
Main Text signed on 29 Jun 2003Main Text signed on 29 Jun 2003 Six Annexes signed on 29 Sept 2003Six Annexes signed on 29 Sept 2003 Implementation since 1 Jan 2004Implementation since 1 Jan 2004
Supplement to CEPASupplement to CEPA Supplement to CEPA signed on 27 Oct 2004Supplement to CEPA signed on 27 Oct 2004 Implementation since 1 Jan 2005Implementation since 1 Jan 2005
Supplement II to CEPA Supplement II to CEPA Supplement II to CEPA signed on 18 Oct 2005Supplement II to CEPA signed on 18 Oct 2005 Implementation since 1 Jan 2006Implementation since 1 Jan 2006
Supplement III to CEPA Supplement III to CEPA Supplement III to CEPA signed on 27 Jun 2006Supplement III to CEPA signed on 27 Jun 2006 Implementation since 1 Jan 2007 Implementation since 1 Jan 2007
Supplement IV to CEPA Supplement IV to CEPA Supplement IV to CEPA signed on 29 Jun 2007Supplement IV to CEPA signed on 29 Jun 2007 Effective from 1 Jan 2008 Effective from 1 Jan 2008
Supplement V to CEPA Supplement V to CEPA Supplement V to CEPA signed on 29 Jul 2008Supplement V to CEPA signed on 29 Jul 2008 Effective from 1 Jan 2009Effective from 1 Jan 2009
Supplement VI to CEPA Supplement VI to CEPA Supplement VI to CEPA signed on 9 May 2009Supplement VI to CEPA signed on 9 May 2009 Effective from 1 Oct 2009Effective from 1 Oct 2009
Mainland and HKMainland and HK1st free trade 1st free trade
agreement agreement
Building Block Approach
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Trade in Goods (1) – Zero Tariff Benefits Trade in Goods (1) – Zero Tariff Benefits
Zero Tariff Benefits: ALL products of Hong Kong origin (except for prohibited articles) to the Mainland since 1 January 2006
Criterion: Products to meet CEPA rules of origin (ROOs)
Products with no agreed ROOs: consultations held twice a year
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Cumulative CO(CEPA) Statistics (as at end Sept 2009)
Trade in Goods (2) - ImplementationTrade in Goods (2) - Implementation
Top Product CategoriesNo. of
Applications Approved)
Export Value
1. Pharmaceutical Products 6,018 HK$7.21 billion
2. Plastics and Plastic Articles 7,409 HK$4.67 billion
3. Textiles and Clothing 12,527 HK$2.45 billion
4. Food and Beveragess 12,739 HK$1.82 billion
5. Chemical Products2,739 HK$0.73 billion
: : :
Total 48,351 HK$19.9 billion
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Trade in Services (1) – 42 Service AreasTrade in Services (1) – 42 Service Areas Preferential Treatment in 42 Service Areas of the Mainland Market :
storage and warehousing medical and dental environmental
services related to management consulting
market research distribution
services incidental to mining
management consulting
cultural
securities and futures logistics convention and exhibition
transport (including road freight/passenger and
maritime transport)
related scientific and technical consulting services
legal computer and related services
translation and interpretation
real estate and construction
job referral agency building cleaning
trade mark agency public utility job intermediary banking
tourism professional qualification examinations
insurance audiovisual
telecommunications printing information technology
air transport
sporting photographic individually owned stores
advertising
social services patent agency freight forwarding agency
accounting
research and development
rail transport
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Trade in Services (2) – Better Market Access Trade in Services (2) – Better Market Access
Forms of Preferential Treatment: relaxing the equity share restrictions reducing the requirements of registered capital reducing the requirements of business
turnover relaxing the restrictions over geographical
location and business scope allowing cross border supply of services delegating approval authority
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Trade in Services (3) - HKSSTrade in Services (3) - HKSS
Beneficiaries: Hong Kong Service Suppliers (HKSS)
Juridical persons (e.g. companies, partnerships, sole proprietorships)
- incorporated in HK and engaged in substantive business operations for 3 or 5 years
- To obtain an HKSS Certificate from TID before applying directly to Mainland authorities for provision of services in the Mainland
Natural persons (HK permanent residents, professionals, individually owned stores)
1010
Trade in Services (4) - Implementation Trade in Services (4) - Implementation
Cumulative Statistics of HKSS Certificates (As of end Sept 2009)
Individually Owned Stores (as at end 2008)3,203 (of which
2,589 in Guangdong)
Top Service SectorsApplication Approved
1. Transport and Logistics 558
2. Distribution 257
3. Advertising 100
4. Air Transport 75
: :
: :
Total 1,342
1111
Mutual Recognition of Mutual Recognition of Professional QualificationsProfessional Qualifications
Agreements or arrangements on mutual recognition of professional qualifications concluded so far:
Construction estate surveyors; architects; structural engineers; planners; quantity surveyors; and building surveyors Finance accounting; and qualified personnel and expertise in respect of the
securities and futures industry
1212
Trade and Investment FacilitationTrade and Investment Facilitation
Trade and investment promotion Trade and investment promotion Customs clearance facilitationCustoms clearance facilitation Commodity inspection and quarantine, food Commodity inspection and quarantine, food
safety and quality and standardizationsafety and quality and standardization Electronic businessElectronic business Transparency in laws and regulationsTransparency in laws and regulations Cooperation of small and medium Cooperation of small and medium
enterprises (SMEs)enterprises (SMEs) Cooperation in Chinese traditional medicine Cooperation in Chinese traditional medicine
and medical products sectorand medical products sector Protection of intellectual property (IP)Protection of intellectual property (IP) Cooperation on BrandingCooperation on Branding
1313
CEPA Supplement VICEPA Supplement VI
Signing of CEPA Supplement VI on 9 May 2009, with implementation from 1 Oct 2009, ahead of usual schedule
Contains a total of 29 liberalization measures, covering 20 services sectors (including two new sectors)
Total no. of service sectors covered by CEPA expands from 40 to 42
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Highlights of CEPA Supplement VI (1)Highlights of CEPA Supplement VI (1)
Major characteristics of liberalization measures under CEPA Supplement VI : :
relaxation in equity share restrictions(e.g. audio visual, public utility, and rail transport services)
lowering of entry threshold(e.g. distribution services, banking services)
elimination of geographical limitation (e.g. convention and exhibition services)
1515
Highlights of CEPA Supplement VI (2)Highlights of CEPA Supplement VI (2)
Expansion of allowable business scope (e.g. securities services, telecommunications, tourism)
Inclusion of liberalization commitments made by the Mainland under other free trade agreements (medical and dental services, research and development services, and real estate services)
Encourage mutual recognition of professional qualifications (e.g. accounting, construction, real estate, printing, pharmacy)
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Highlights of CEPA Supplement VI (3)Highlights of CEPA Supplement VI (3)
Guangdong pilot measures (e.g. legal, public utility, banking, transport, telecommunications)
Enhance financial cooperation(e.g. ETF)
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Benefits of CEPA Supplement VI (1)Benefits of CEPA Supplement VI (1)
Liberalization of key service sectors which Hong Kong has competitive advantages : :
Financial services Tourism Creative industry Transport services
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Benefits of CEPA Supplement VI (2)Benefits of CEPA Supplement VI (2)
Signing of CEPA Supplement VI :– reflects Central Peoplereflects Central People’’s Governments Government’’s support for s support for
Hong Kong Hong Kong – complements the policy direction, as advocated in the complements the policy direction, as advocated in the
““Outline of the Plan for the Reform and Development of Outline of the Plan for the Reform and Development of the Pearl River Deltathe Pearl River Delta””
– consolidates Hong Kongconsolidates Hong Kong’’s status as an international s status as an international financial, trade, shipping, logistics and high value-financial, trade, shipping, logistics and high value-added service centreadded service centre
– promotes the long term economic development of both promotes the long term economic development of both
sidessides and upgrades the professional standards of the and upgrades the professional standards of the two places two places
1919
Benefits of CEPABenefits of CEPA
HKSARG’s preliminary assessment of the economic impact of CEPA to HK
Created 43,200 new jobs in 2004 to 2008; Generated an additional spending of
HK$58.4 billion in 2004 to 2008. Generated HK$45.9 billion worth of services
receipts from the Mainland for HKSS holders in 2004 to 2008;
HKSARG’s latest assessment of the economic impact of CEPA to the Mainland
Created 49,500 new jobs in 2004 to 2008;
2020
Opportunities to Overseas Investors Opportunities to Overseas Investors
A new platform to tap the vast opportunities of the Mainland market:
For trade in goods, to set up manufacturing operations in Hong Kong to produce goods meeting CEPA origin rules to enjoy the zero tariff benefits.
For trade in services, to make full use of CEPA benefits in entering the Mainland market by:- establishing their businesses in Hong Kong- acquiring or joining forces with enterprises in Hong Kong
2121
Support & Promotion of CEPASupport & Promotion of CEPA
TID’s CEPA Website (http://www.tid.gov.hk/english/cepa/)
- Information Database on CEPA Service Sectors
Free Enquiry Services
Hotline: (852) 2398 5667 E-mail: [email protected]
Organizing and participating in seminars or briefings
Co-operation with HKSARG Offices in the Mainland (Beijing, Guangdong, Shanghai and Chengdu) for assistance cases