Mainland forges closer ties with HK and Macao under CEPA

The central government and the Hong Kong Special Administrative Region government have inked an updated version of the Closer Economic Partnership Arrangements (CEPA) - a step that would boost the trading of goods between the Chinese mainland and Hong Kong.

The Agreement on Trade in Goods under the CEPA framework was signed on Friday in the presence of Fu Ziying, international trade representative and vice-minister of commerce and Carrie Lam Cheng Yuet-ngor, the chief executive of HKSAR.

Under the agreement, goods of Hong Kong origin imported into the mainland will enjoy zero tariffs, starting from January 2019, through the enhanced agreement or rules of origin (ROO).