The Chamber is very enthusiastic about the resulting agreement, and feels that members should immediately take time to study the agreement to see if they can take advantage of it. Remember, much of the benefits contained in CEPA for Hong Kong are time-related. I can tell you that the whole world is watching. In a swing through France, Spain, and Portugal early in October, a Chamber delegation found great interest among the business communities there in CEPA and how they can either take advantage of the zero-tariff provision or how they can work with Hong Kong service suppliers. Most encouragingly, Mainland provinces and cities are also very interested in CEPA, and the Chamber has had contacts with no fewer than thirty-plus provinces and cities who want to talk about new co-operation opportunities with Hong Kong because of CEPA.

We must express deep appreciation to the Central Government and the HKSAR Government for concluding such a useful and substantive agreement. Although the Chamber has said that CEPA is not just a "big gift" from the Central Government and can actually benefit both the Mainland and Hong Kong -- apparently many in China agree from the interest of provinces and cities I described above -- Hong Kong should not "waste" this agreement and really should try to take advantage of it.

We would urge manufacturers to start calculating how much zero tariff can save for them, and whether the agreed-to rules of origin would make the numbers add up and make doing some manufacturing here worthwhile. We would advise talking to Mainland and foreign investor partners too on this manufacturing possibility.

For services, which after all dominate Hong Kong and dominate our membership, those in the 18 sectors which will enjoy some sort of liberalisation need to calculate how to expand their China business. Working with foreign and Mainland businesses either in providing service or as investment partner is also a possibility to explore.

There are many ways to take advantage of CEPA. Hong Kong has always thrived on good business sense and quick actions, and the Chamber is confident that our members will now do exactly that, making us so happy that the Chamber played such a key role in the past four years in getting CEPA to the current stage.