The agreement summarizes recent opening-up measures in the area of trade in services since the signing of the CEPA agreement on trade in services in 2015, takes into account the call for the opening up of Macao industries, removes or further lowers the entry threshold for Macao service providers in the fields of finance, of law and architecture. It also eases restrictions on the structure of trade in services, such as the free movement of natural persons and cross-border delivery, which has allowed Macau residents to do business on the mainland. Details of the modification of the services agreement can be found on the relevant website of the Ministry of Trade and Industry: (www.tid.gov.hk/english/cepa/legaltext/cepa18.html) (www.tid.gov.hk/english/cepa/legaltext/cepa13.html) CEPA is a framework agreement based on four agreements: this year marks the 20th anniversary of Macau`s return to the motherland. The agreement will not only provide strong support for the moderate and diversified development of Macau`s economy, but will also give new vitality to the development of the service industry on the continent. It is of great importance to comprehensively deepen economic and trade exchanges and cooperation between the two places, support The economic development of Macao, improve the livelihoods of the people and integrate into the overall situation of national development. On the 20th. In November, Vice Minister of Commerce Wang Bingnan and Secretary of Economy and Finance of the Macao Special Administrative Region Leong Vai Tac signed the agreement amending the CEPA Agreement on Trade in Services in Macao. The agreement will enter into force from the date of signature and will be officially implemented on 1 June 2020. The Services Agreement, which referred to the framework of the Agreement between the Mainland and Hong Kong signed in December 2014 on achieving fundamental liberalisation of trade in services in Guangdong (`the Guangdong Agreement`), includes and consolidates commitments related to the liberalisation of trade in services provided under CEPA and its supplements: and the Guangdong Convention – becomes a separate subsidiary agreement on trade in services under CEPA. The amendments signed on 21 November 2019 to the Agreement on Continental Trade and the Hong Kong Closer Economic Partnership Agreement (Amendment) entered into force on 1 June 2020. Trade in services is one of the four main areas covered by the Closer Economic Partnership Agreement between the Mainland and Hong Kong (CEPA), under which Hong Kong`s service providers receive preferential treatment when entering certain services sectors on the mainland.
The amendment aims to further improve the liberalisation of the mainland services sectors vis-à-vis Hong Kong by implementing further liberalisation measures and lowering the thresholds for Hong Kong service providers to access mainland markets. For more information, see our previous customer alert – “Amendments to the Mainland Trade Agreement and the Hong Kong Closer Economic Partnership Agreement”. From 1 January 2006, Mainland will introduce zero customs duty on imported goods originating in Hong Kong. Zero Tariff goods must comply with the standards negotiated and regulated by both parties for the place of origin. The following agreement amending the CEPA Agreement on Trade in Services was implemented on 1 June 2020. Now that the change has come into effect, Hong Kong service providers should keep the following in mind when formulating their business plans: “I`m a big fan. The information is indeed very useful. This Agreement is drawn up in duplicate in Chinese. From 1. In January 2006, Hong Kong manufacturing companies were able to submit a detailed list of non-tariff products to the Ministry of Industry and Trade. With respect to any measure covered by the service contract, each Party shall immediately and unconditionally accord to the services and service suppliers of the other Party treatment no less favourable than that which it accords to similar services and to service suppliers of another Party. Liberalization measures under the Guangdong Agreement and CEPA and its supplements (All information published on this site is authentic in Chinese.
Hong Kong and the mainland celebrated September 28. June 2017 signed the Investment Agreement under CEPA to gradually reduce or substantially eliminate all discriminatory investment-related measures between the two Parties, protect investors` rights, and promote the progressive liberalization and facilitation of investments by both Parties. The investment declaration was implemented on 1 January 2018. Chui Sai On, Chief Executive of the Macao Special Administrative Region and Director of the Liaison Office of the Central People`s Government in Macao Fu Ziying, attended the signing. National treatment1 applies to the following commercial services under “commercial presence”2: This Agreement was signed in Hong Kong on October 18, 2005. The two sides decided to amend the specific measures of Article 5 of Annex 1, namely on the introduction of zero duty for trade in goods, from CEPA to: Hong Kong and mainland signed CEPA in 2003, then both sides expanded and enriched the content of CEPA and signed ten amendments between 2004 and 2013. In December 2014, the Agreement between the Mainland and Hong Kong on the Implementation of Fundamental Liberalization of Trade in Services in Guangdong (the Guangdong Agreement) was signed under CEPA, which allows for the rapid implementation of the fundamental liberalization of trade in services with Hong Kong in Guangdong. If the above standards for “essential treatment” are not sufficient to determine the place of origin, other additional conditions could be adopted with the consensus of both parties. .
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