https://www.scmp.com/rss/305797/feed The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is an economic agreement between the government of Hong Kong and the Central People's Government of the People's Republic of China. Signed on June 29, 2003, it is a free trade agreement that allows qualifying products, companies and residents of Hong Kong preferential access to the mainland Chinese market. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Forgive my little bemusement over all the recent fuss in Hong Kong about building our links into the Greater Bay Area. Don’t get me wrong: I think it is a great idea. But I need to ask a simple question: what do people think we in Hong Kong have been doing for the past three decades, if not building our linkages to mainland China? Hong Kong and the Pearl River Delta region have been highly interconnected for many centuries, even during British colonial rule. Quickly after mainland China began... https://www.scmp.com/business/banking-finance/article/2118414/enough-debate-hong-kong-must-be-part-greater-bays-explosive?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2118414/enough-debate-hong-kong-must-be-part-greater-bays-explosive?utm_source=rss_feed Sun, 05 Nov 2017 01:00:45 +0000 A free-trade deal with mainland authorities that was intended 14 years ago to bolster Hong Kong’s then-struggling economy may have run its course for the city unless it innovates, analysts warn. June 29, 2003 was a joyful day for Hong Kong’s business community when China’s then premier Wen Jiabao came to town with an unprecedented agreement giving local investors preferential access to the massive mainland market – before extending the free-trade deal to other countries. The Closer Economic... https://www.scmp.com/news/hong-kong/economy/article/2102858/fourteen-years-after-sars-hong-kong-must-innovate-make-most?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2102858/fourteen-years-after-sars-hong-kong-must-innovate-make-most?utm_source=rss_feed Mon, 17 Jul 2017 00:00:20 +0000 China is further opening its doors to Hong Kong investors after two bilateral trade agreements were signed on Wednesday, a day before President Xi Jinping’s arrival to mark the 20th anniversary of the city’s return to Chinese rule. With immediate effect, the agreements grant local businesses most preferential investment access to the world’s second largest economy – in both service and non-services sectors – and pave the way for the city to further participate in China’s go global strategy. The... https://www.scmp.com/news/hong-kong/economy/article/2100442/china-and-hong-kong-sign-two-trade-agreements-giving-local?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/2100442/china-and-hong-kong-sign-two-trade-agreements-giving-local?utm_source=rss_feed Wed, 28 Jun 2017 13:56:38 +0000 Professionals from Hong Kong look poised to enjoy greater access to the mainland's growing services market as officials from both sides signed an agreement yesterday that aimed to tear down more barriers to cross-border trade in services. The pact, touching on sectors such as legal services, accounting, construction, insurance, securities, banking, telecoms and culture, is the latest supplement of the Closer Economic Partnership Arrangement (Cepa) introduced in 2003. It applies to the entire... https://www.scmp.com/news/hong-kong/economy/article/1884122/opening-business-hong-kong-and-mainland-china-finance?utm_source=rss_feed https://www.scmp.com/news/hong-kong/economy/article/1884122/opening-business-hong-kong-and-mainland-china-finance?utm_source=rss_feed Fri, 27 Nov 2015 06:00:45 +0000 Hong Kong firms now have greater access to Guangdong and more freedom to operate there, under a new trade liberalisation agreement expected to pave the way for the development of a free trade zone in the province to rival that of Shanghai. The Hong Kong government and the national Ministry of Commerce yesterday signed an agreement based on the framework of the 11-year-old Closer Economic Partnership Arrangement (Cepa), which liberalised cross-border trade. The latest agreement focuses on the... https://www.scmp.com/news/hong-kong/article/664660/guangdong-cross-border-deal-opens-door-hong-kong-businesses?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/664660/guangdong-cross-border-deal-opens-door-hong-kong-businesses?utm_source=rss_feed Thu, 18 Dec 2014 06:00:00 +0000 Hong Kong and Guangdong are still working to tear down more barriers to cross-border trade in services, leaders of the two governments said yesterday, as business chiefs bemoaned the long wait for details… South China Morning Post, November 7 Three paragraphs down, our report gives the game away - "'We are still trying to secure the endorsement from the Commerce Department,' [Guangdong Governor Zhu Xiaodan] said after attending the 17th cooperation meeting between the governments in... https://www.scmp.com/comment/insight-opinion/article/1635120/joke-hong-kong-endless-talks-guangdong-trade-deal?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1635120/joke-hong-kong-endless-talks-guangdong-trade-deal?utm_source=rss_feed Sat, 08 Nov 2014 21:17:08 +0000 Hong Kong and Guangdong are still working to tear down more barriers to cross-border trade in services, leaders of the two governments said yesterday, as business chiefs bemoaned the long wait for details of the agreement. A scheme first touted in 2011 to allow Hong Kong businesses easier access to the Guangdong market in a range of services is under discussion, but no details emerged from the latest meeting between the two sides. Guangdong Governor Zhu Xiaodan said the pilot scheme, scheduled... https://www.scmp.com/news/hong-kong/article/1633414/cy-leung-says-hong-kong-discussions-beijing-over-latest-cepa-trade?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/1633414/cy-leung-says-hong-kong-discussions-beijing-over-latest-cepa-trade?utm_source=rss_feed Thu, 06 Nov 2014 06:00:15 +0000 First brokers, now accountants. Its been 10 years since the Closer Economic Partnership Arrangement (Cepa) was introduced, but the mainland market seems to be as elusive as ever for Hong Kong professionals. With a Hong Kong court ruling that Ernst & Young cannot use the "state secret" clause to withhold information on mainland businesses from the local regulator, it may be sliding further away. It is feared the verdict will prompt the mainland's Ministry of Finance to speed up its audit reforms,... https://www.scmp.com/business/economy/article/1519509/cepa-no-help-beijing-set-ban-citys-accountants?utm_source=rss_feed https://www.scmp.com/business/economy/article/1519509/cepa-no-help-beijing-set-ban-citys-accountants?utm_source=rss_feed Sun, 25 May 2014 21:00:15 +0000 Beijing has endorsed the study of a Hong Kong government plan for the mutual recognition of fund products that would allow Hong Kong-domiciled funds to be sold on the mainland and vice versa. The scheme is a highlight of Supplement 10 of the Closer Economic Partnership Arrangement agreement, which was signed yesterday by the Hong Kong and central governments. Other measures include allowing joint ventures involving Hong Kong securities firms to conduct a wider array of business and allowing... https://www.scmp.com/business/money/markets-investing/article/1300506/china-okays-study-hong-kong-plan-mutual-recognition?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1300506/china-okays-study-hong-kong-plan-mutual-recognition?utm_source=rss_feed Thu, 29 Aug 2013 16:00:00 +0000 The Closer Economic Partnership Arrangement (Cepa) has been a bit of a disappointment to city businesses seeking access to potentially lucrative mainland markets. To bring any real benefit to Hong Kong, the mainland regulator must be willing to cut the red tape. The Hong Kong General Chamber of Commerce last week made an interesting proposal to the Hong Kong government on how to make Cepa work better. It wants Beijing to allow certain local firms involved in logistics, tourism or retailing to be... https://www.scmp.com/business/article/1292935/bar-set-too-high-hong-kong-firms-wanting-mainland-china-access?utm_source=rss_feed https://www.scmp.com/business/article/1292935/bar-set-too-high-hong-kong-firms-wanting-mainland-china-access?utm_source=rss_feed Mon, 29 Jul 2013 16:00:00 +0000 Of all the changes Hong Kong has gone through since the handover, the shift in the economy is the most remarkable. Shopping streets are swarmed with mainland tourists snapping up products from luxury watches and handbags to baby food and toiletries. Like it or not, they are now the lifeline of retail and tourism. On the other hand, more locals go north for jobs and businesses, and many home-grown brands can be found on the mainland. Such cross-border activities were unthinkable 10 years ago, as... https://www.scmp.com/comment/insight-opinion/article/1280618/making-best-hong-kongs-free-trade-deal?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1280618/making-best-hong-kongs-free-trade-deal?utm_source=rss_feed Thu, 11 Jul 2013 16:00:00 +0000 While questions are raised about the diminishing effectiveness of the Closer Economic Partnership Arrangement, analysts do not expect the economic goodies from the mainland to dry up any time soon. After all, Beijing has few alternatives when it comes to supporting Hong Kong and the city's embattled government. "For years, the central government has spared no effort to win the hearts of the majority and, hence, maintain social stability in Hong Kong," said Professor Zheng Tianxiang , from Sun... https://www.scmp.com/business/economy/article/1275469/beijing-will-maintain-sweeteners-cepa-pact-hong-kong-say-analysts?utm_source=rss_feed https://www.scmp.com/business/economy/article/1275469/beijing-will-maintain-sweeteners-cepa-pact-hong-kong-say-analysts?utm_source=rss_feed Thu, 04 Jul 2013 16:00:00 +0000 From the very beginning, the Closer Economic Partnership Arrangement was more than simply helping out Hong Kong's battered economy in the wake of severe acute respiratory syndrome (Sars) and the Asian financial crisis. It was also an exercise in winning hearts and minds. On the day he signed the pact on June 29, 2003, former premier Wen Jiabao made it clear that as well as being intended to boost the economy, "The agreement also indicates the central government's concern and support for Hong... https://www.scmp.com/business/global-economy/article/1275470/beijing-fails-win-hearts-and-minds-hongkongers-cepa-trade?utm_source=rss_feed https://www.scmp.com/business/global-economy/article/1275470/beijing-fails-win-hearts-and-minds-hongkongers-cepa-trade?utm_source=rss_feed Thu, 04 Jul 2013 16:00:00 +0000 Guangdong was expected to be the biggest mainland beneficiary of the Closer Economic Partnership Arrangement when it was launched a decade ago. The popular belief was that Hong Kong capital and professional expertise would help upgrade the neighbouring province's service and financial sectors, improve its industrial infrastructure and support manufacturing, keeping the Pearl River Delta at the forefront of the nation's economic reform. Ten years on, industry insiders say things have not quite... https://www.scmp.com/business/economy/article/1274788/cepa-not-big-success-story-many-guangdong-enterprises?utm_source=rss_feed https://www.scmp.com/business/economy/article/1274788/cepa-not-big-success-story-many-guangdong-enterprises?utm_source=rss_feed Wed, 03 Jul 2013 16:00:00 +0000 Despite complicated procedures and high start-up costs, Dr Hubert Wong Chi-ho has no regrets about opening his pioneering clinic in Shenzhen. The application process for the 6,000 sq ft clinic in Futian took more than a year, during which time he still had to pay rent - 1.3 million yuan (HK$1.63 million) even before his first patient arrived in May last year. Wong is limited in the services he can offer over the border, but he still believes his clinic can make a profit. "The market is big and... https://www.scmp.com/business/economy/article/1274792/pioneering-doctor-answers-call-head-mainland-china?utm_source=rss_feed https://www.scmp.com/business/economy/article/1274792/pioneering-doctor-answers-call-head-mainland-china?utm_source=rss_feed Wed, 03 Jul 2013 16:00:00 +0000 Veteran solicitor Thomas So Shiu-tsung has a legal qualification from the mainland, but says he and fellow Hong Kong lawyers are nothing more than "second-class citizens" across the border. "Our practice on the mainland is still very restricted," says So, a commercial litigation specialist and vice-president of the Law Society. "For example, we can't undertake any litigation involving criminal law or administrative issues. Even for commercial cases, we can handle only those involving Hong... https://www.scmp.com/business/economy/article/1274787/were-second-class-citizens-mainland-china-says-hong-kong-lawyer?utm_source=rss_feed https://www.scmp.com/business/economy/article/1274787/were-second-class-citizens-mainland-china-says-hong-kong-lawyer?utm_source=rss_feed Wed, 03 Jul 2013 16:00:00 +0000 It has been a steep learning curve for Hong Kong architects like Felix Li Kwok-hing, who has spent half his time working on the mainland since Hong Kong qualifications were recognised across the border. There is little doubt that the industry has benefited from Cepa. About half of the business for local architect firms involves mainland projects, says the city's Institute of Architects. But it is the diminished role of the architect that they need to adapt to, said Li, one of the 412 Hongkongers... https://www.scmp.com/business/economy/article/1274789/hong-kong-architects-mainland-china-projects-dont-have-total?utm_source=rss_feed https://www.scmp.com/business/economy/article/1274789/hong-kong-architects-mainland-china-projects-dont-have-total?utm_source=rss_feed Wed, 03 Jul 2013 16:00:00 +0000 Hong Kong's accountants no longer have to spend quite so long with their heads in books to qualify to work on the mainland. But Cepa has yet to help them get senior roles. None of the 35,000 members of the Hong Kong Institute of Certified Public Accountants has yet become a partner of a mainland firm, a prerequisite for opening their own practice. "Cepa did help Hong Kong accountants in terms of qualifications, but there are other regulations that block them from being partners," said Philip... https://www.scmp.com/business/economy/article/1274791/cepa-doesnt-add-much-accountants?utm_source=rss_feed https://www.scmp.com/business/economy/article/1274791/cepa-doesnt-add-much-accountants?utm_source=rss_feed Wed, 03 Jul 2013 16:00:00 +0000 A decade ago, Causeway Bay was a tourist hot spot with a thriving array of boutiques, wonton noodle shops and decades-old bakeries amid the glitzy shopping malls. Shoppers who were not speaking Cantonese were likely to be conversing in Japanese or English. Today, the language most often heard is Putonghua. Mainland tourists predominate, pulling wheeled suitcases and splashing their stacks of money on gold ornaments, diamond rings, Rolex watches, Gucci handbags, baby formula, cosmetics and... https://www.scmp.com/business/economy/article/1274790/tricky-business-trading-places?utm_source=rss_feed https://www.scmp.com/business/economy/article/1274790/tricky-business-trading-places?utm_source=rss_feed Wed, 03 Jul 2013 16:00:00 +0000