China's Vice Minister of Commerce An Min (right) and Hong Kong's Financial Secretary Henry Tang

The Hong Kong and Chinese mainland governments have finalised and broadened the content of the Closer Economic Partnership Arrangement (Cepa), enhancing the benefits for Hong Kong, Mainland and overseas companies.

What is Cepa? - a simple guide
FAQs for overseas companies
Detailed FAQs
 
At a signing ceremony, China's Vice Minister of Commerce An Min and Hong Kong's Financial Secretary Henry Tang said Cepa would bring more business opportunities to both Hong Kong and the mainland, and that there would be more concessions to come.

"Cepa is an open and continuous agreement, and there will be new developments," said Mr An.

New details clarify how companies can benefit

The first stage of Cepa, outlining its broad direction, was signed on 29 June this year. Under the agreement, 90 per cent of Hong Kong-made goods could be exported to the Mainland tariff free, and Hong Kong service providers were offered preferential access to the Mainland market.

But many businesses had been eagerly awaiting the finalized agreement, which included the definition of a Hong Kong company and "made in Hong Kong" goods, as well as laying out how companies could apply for Cepa certification.

The annexes signed today (28 September) cover the following areas:
* arrangements for implementation of zero tariff for trade in goods;
* rules of origin for trade in goods, procedures for the issuing and verification of certificates of origin;
* specific commitments on liberalisation of trade in services;
* detailed definition of "Service Supplier" and related requirements; and
* trade and investment facilitation.
 
Speaking at a press conference held after the signing ceremony, Secretary for Commerce, Industry & Technology John Tsang said that Cepa has good potential to open up many more new business opportunities in the Mainland for Hong Kong, as well as to enhancing Hong Kong's attractiveness to overseas investors. Mr Tsang urged companies to seize the opportunities presented by the free trade arrangement.

More Cepa links:
CEPA deals offer more business opportunities
Cepa webcasts - hear from the experts
Trade and Industry Department Cepa information