Commerce and Industry 105
On trade in goods, the Mainland has applied zero tariff to all imported goods of Hong Kong origin since January 1, 2006, upon application by local manufacturers and upon the CEPA rules of origin (ROOs) being agreed and met. By end-2008, a cumulative total of 1 515 products had their CEPA ROOS agreed. For trade in services, Supplement V to CEPA introduced a total of 29 new liberalisation measures in 17 service areas, bringing the total number of CEPA service areas to 402. These new liberalisation measures will take effect from January 1, 2009. Moreover, the CPG agreed to put in place 25 services liberalisation and facilitation measures for early and pilot implementation in Guangdong Province, 17 of which are included in the CEPA liberalisation package. The progressive liberalisation of trade and investment measures under CEPA continues to provide impetus to the development of the Hong Kong economy. The pilot measures in Guangdong will also enhance economic and trade co-operation between Hong Kong and Guangdong.
Liaison with the Mainland
The Mainland's rapid economic and trade growth has helped boost Hong Kong's external trade and intermediary services. Not only does CEPA provide a window of opportunity for Hong Kong businesses to gain greater access to the Mainland market, the various preferential treatments under CEPA also enhance the attractiveness of Hong Kong to overseas investors. In addition, Hong Kong serves as a springboard for Mainland enterprises to reach out to the global market.
The Government is committed to helping the business community tap the Mainland market, with emphasis on the opportunities brought about by CEPA and the Guangdong pilot measures.
measures. It maintains close liaison with the Mainland authorities at different levels through various government bureaux and departments, the Beijing Office of the HKSAR Government, the network of the Hong Kong ETOs in the relevant Mainland and quasi-government bodies like the Hong Kong Trade Development Council (TDC) to ensure the smooth implementation of CEPA and the Guangdong pilot measures. Regular high-level communication is also achieved through the Hong Kong/Guangdong Co-operation Joint Conference and the CEPA Joint Steering Committee.
Bilateral Investment Promotion and Protection Agreements
To assure overseas investors that their investments in Hong Kong are adequately protected, and to enable Hong Kong investors to enjoy similar protection overseas, Hong Kong has concluded Investment Promotion and Protection Agreements (IPPAs)
These service areas are: accounting, advertising, air transport, audiovisual, banking, building- cleaning, computer and related services, convention and exhibition, cultural, distribution, environmental, freight forwarding agency, individually owned store, information technology, insurance, job intermediary, job referral agency, legal, logistics, management consulting, market research, medical and dental, patent agency, photographic, printing, professional qualification examinations, public utility, real estate and construction, related scientific and technical consulting. services, securities and futures, services incidental to mining, services related to management consulting, social services, sporting, storage and warehousing, telecommunications, tourism, trade mark agency, translation and interpretation, transport (including road freight/passenger transportation and maritime transport).