For Immediate Release
The Hong Kong General Chamber of Commerce (HKGCC) welcomes the new initiatives included in the Amendments to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) on Trade in Services, which was signed today.
HKGCC Chairman Aron Harilela said: “The new agreement lowers the threshold for accessing the Mainland market and widens the scope of operations for more Hong Kong services industries and professionals. Hong Kong’s financial services, accounting, legal, construction and related engineering, tourism, and television and film sectors will now have easier access the Mainland market.”
In particular, widening the scope for testing products under the China Compulsory Certification (CCC) System means that Hong Kong companies will be able to provide quality testing services for the Mainland consumer goods market, including testing products imported into the Mainland from other places. Hong Kong testing companies have been asking for this relaxation for some time, so it is very much welcomed.
“The new measures introduced in the agreement should create more opportunities for Hong Kong service professionals in the Mainland. Companies that have been suffering from slowing business resulting from the protests and trade war will find the new opportunities particularly helpful,” he added.
“Hong Kong has a wealth of legal expertise, and easing restrictions for the legal sector will unlock new opportunities for Hong Kong law firms who are eager to expand in the Mainland,” said Chamber CEO Shirley Yuen.
Renewing the agreement on mutual recognition of professional qualifications for engineers and other related professionals in the construction sector should also help Hong Kong professionals continue to expand their participation in Mainland projects, she added.
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