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CEPA: Hong Kong Reloaded Or the Final Frontier?

Star Trek's opening monologue, "Space, the final frontier," makes Peter Woo think of all the new frontiers that will open up with the implementation of CEPA.

"With CEPA, Hong Kong's strengths will be 'reloaded' as a global business platform, as we set course for a new journey to expect the unexpected," said HKTDC's Chairman at the Business Summit luncheon. But, "The big question is: are we CEPA-ready?"

Unlike Starship Enterprise, CEPA is more like a bicycle in that if you don't peddle, you won't get anywhere, he says. But it is clearly an opportunity to pedal ahead of the pack.

For service providers based in Hong Kong, acting on this headstart means careful scouting and selection of opportunities during a limited time window. These could also endure for the longer term, such as clinching the best and the right franchisees, he suggests.

For producers, under CEPA, high-value-added manufacturing services and "boutique" factories in Hong Kong will be able to export tariff-free to China for further production, distribution, or export.

The issue now is not about whether businesses are optimistic or cynical about CEPA, but to act. "If you don't, your competitors will," he says.

"The opening of the Pearl River Delta 25 years ago redefined our future. Back then, pioneering Hong Kong companies ventured north into uncharted, rugged terrain, expecting the unexpected. We now see that it has been a great journey," he says. "If you are CEPA-ready, you have the opportunity 'to boldly go where no man has gone before...'."

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