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FORUM - Closer Economic Partnership Arrangement (CEPA)

further CEPA liberalisation

03 Aug 2009 11:48

12

According to HK SAR Government release in May 2009, the Mainland will introduce 29 liberalisation measures covering 20 service sectors, including two new sectors (research and development, and rail transport).?Thus, the total number of service sectors covered by CEPA will be expanded from 40 to 42, namely tourism, banking and securities, audio-visual, telecommunications, legal, convention and exhibition, transportation, printing and publishing, research and development services etc. Please click here for details available from Government Trade and Industry Department CEPA feature.
Post 1 of 6
Moderator

01 Jun 2010 15:27

11

The Hong Kong SAR Government announced on May 27 the CEPA Supplement VII which further relaxes the market access conditions in 14 service sectors, which comprise construction; medical services; technical testing, analysis and product testing ; specialty design; audiovisual services; distribution; banking; securities; social services; tourism; cultural services; air transport; qualification examinations for professionals and technicians; and individually owned stores. Among them, "technical testing, analysis and product testing" and "specialty design" are new sectors, bringing the total number of liberalised service sectors under CEPA from 42 to 44.

 

Please check here for details on further liberaltions under CEPA: www.tid.gov.hk/english/cepa/index.html

Post 2 of 6

15 Jun 2011 15:49

1

We are setting up a service company in China and want to know whether we have any benefits as qualified service supplier under the definition of Hong  Kong service supplier and what are the requirements?

Post 3 of 6
Moderator

16 Jun 2011 11:37

Extracts from Hong Kong Trade and Industry Department on CEPA and its Supplements Definition of Service Suppliers: with the exception of the legal services sector, a Hong Kong service supplier, when applying to provide the relevant services should be incorporated or established pursuant to the Companies Ordinance  and have obtained a valid Business Registration Certificate.

 

If required by law, it should also have obtained the licence or permit for providing such services; The criteria for determination are: (1)The nature and scope of business The nature and scope of the services provided by a Hong Kong service supplier in Hong Kong should encompass the nature and scope of the services it intends to provide in the Mainland, and have engaged in substantive business operations for 3 years or more. Please click herefor more details from Trade and Industry Department on certificate of Hong Kong Service Suppliers.

 

 

Post 4 of 6
Moderator

15 Sep 2011 11:14

Under CEPA, Hong Kong service suppliers can enjoy preferential treatment when setting up business in various service sectors in the Mainland. Many of these are sectors in which Hong Kong has competitive advantages.

 

The liberalisation measures under CEPA provide Hong Kong service suppliers with preferential access to the Mainland market. The preferential treatment takes various forms, including allowing wholly-owned operations, relaxing restrictions on equity shareholding, reducing registered capital requirements, relaxing restrictions over geographical location and business scope, etc.

 

Please check herefor a special information database on CEPA Measures and Regulations (by Service Sector) provided by the Hong Kong Government Trade and Industry Department.

Post 5 of 6
Moderator

08 Jan 2014 15:12

Under CEPA Supplement X, thousands of Hong Kong service suppliers (HKSS) have been able to set up shop on the mainland with market access terms that are more favourable than otherwise accorded to foreign investors generally pursuant to WTO provisions.
Remarkably, Hong Kong has established itself to be the largest offshore Rmb centre with a clear first-mover advantage, with about 200 banks having introduced Rmb businesses, and Rmb deposits of more than Rmb780 billion.
Another impressive development is that since 2004 more than 120 million mainland tourists have visited Hong Kong as individual travellers as a result of the Individual Visitor Scheme, and they accounted for 67% of Hong Kong’s inbound mainland tourists in the first 10 months of 2013.
The Central government indicated as early as 2011 that it wanted to achieve basically free trade in services between the mainland and Hong Kong by the end of the 12th Five Year Plan period in 2015. This was then followed by a pledge from the Guangdong government in 2012 that the province would strive for basically free trade in services with Hong Kong by the end of 2014. Further details of the CEPA Supplement X - new moves toward freer trade with Chinese Mainland can be found by checking here with the TDC Research special feature.

Post 6 of 6
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