The Mainland and Hong Kong Closer Economic Partnership Arrangement , or Closer Economic Partnership Arrangement ( CEPA ) for short, is an economic agreement between the Government of the Hong Kong Special Administrative Region and the Central People's Government of the People's Republic of China, signed on 29 June 2003. A similar agreement, known as the Mainland and Macau Closer Economic Partnership Arrangement, was signed between the Government of the Macau Special Administrative Region and the Central People's Government on 18 October 2003.
Annual supplements have been signed between the Mainland and Hong Kong governments. The most recent, Supplement IV (often referred to as CEPA V), was signed 29 June 2007.
The two agreements and additional supplements were signed in the Chinese language; the Chinese text is therefore the authoritative text. The Hong Kong government generally provides a courtesy English translation, as English is one of the official languages of Hong Kong.
In the full name of "CEPA", the "Mainland" refers to the customs territory of China.
Objectives
Taken from the agreement between Hong Kong and mainland China:
" To strengthen trade and investment cooperation between Mainland China and Hong Kong and promote joint development of the two sides, through the implementation of the following measures :
- progressively reduce or eliminate tariffs and non-tariff barrier on substantially all the trade in goods between the two sides;
- progressively achieve liberalization of trade in services through reduction or elimination of substantially all discriminatory measures;
- promote trade and investment facilitation. "
See also
- Economy of the People's Republic of China
- Economy of Hong Kong
- Economy of Macau
- Mainland and Macau Closer Economic Partnership Arrangement
- Special administrative region
- Trade bloc
External links
- Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA)
- Origins: http://www.chamber.org.hk/info/the_bulletin/april2002/cepa.asp
- Analysis of original document: http:
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