Furthering CEPA

80. The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is a manifestation of our unique advantages under “One Country, Two Systems”. Following the introduction of CEPA I and II, which involves tariff-free access to the Mainland for many of our products and trade liberalisation in 26 services sectors, we have held further talks with the Central Authorities and hope to announce CEPA III arrangements as soon as possible. Under CEPA III, more Hong Kong products will enjoy tariff-free access to the Mainland, while the scope of liberalisation in the existing CEPA services sectors will be further extended. There will also be more measures to facilitate investment and trade.

81. The signing of CEPA was certainly very important, but its implementation carries even greater significance. To ensure the effective implementation of CEPA, the SAR Government continues to work closely with the Mainland authorities to adopt the necessary supporting measures to help our services suppliers gain early access to Mainland markets. We will strengthen co-operation with the Mainland authorities to publicise extensively the specific contents of CEPA and the strengths of our professional services. We will also strive to help local professions participate in Mainland construction works and other projects.