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CEPA stimulates free trade between Mainland and HK

08-18-2011 14:05 BJT

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In 2003, the Chinese central government and the Hong Kong SAR government signed the Closer Economic Partnership Arrangement. This stimulated the free trading process between the two sides.

Today there are more than 160 services in trading under the structure of the WTO. The central government opened up 145 of them to Hong Kong. 100 have been opened up to other regions. Since the Opening and Reform Policy was instituted, the Chinese mainland has eliminated 24 billion RMB worth of Hong Kong's commodity tax. Trade growth is 88 times higher than before the policy began.

Chen Deming, Minister of Commerce, said, "The main obstacles between two sides are political regime and law. There is also a concern for society about accepting the cost. Both sides need to understand each other better. Now, the door is already open, and opportunities are coming."

 

Editor:Zhang Dan |Source: CNTV.CN

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