CEPA Between China (mainland) and Hong Kong
CEPA中的关键词（英文）
孙文杰
【摘要】What is CEPA?What is the form of CEPA, a law or a policy?
【关键词】CEPA definition
【全文】
CEPA Between China (mainland) and Hong Kong
1. What is CEPA?
CEPA is the abbreviation of Closer Economic Partnership Arrangement, which was signed on June 29 2003 between China mainland and Hong Kong, and to be implemented on 1st January 2004. Its purpose is to promote and stimulate Hong Kong’s economic and increase Hong Kong’s economic growth rate.
2. What is the form of CEPA, a law or a policy?
Like other Arrangements between China Mainland and Hong Kong, CEPA has its unique characteristic. Since China adopted the “One country, two systems” , the term of Arrangement has been used as a legal measure between two customs of jurisdiction. CEPA’s form is like a free trade agreement, though it is not an agreement between two independent states. CEPA is an organic and dynamic document to leverage the further cooperation between China and Hong Kong. It contains six annexes going to be finalized by January 1 2004, when CEPA’s benefits are scheduled to commerce. The six annexes deal with various definitions that are fundamental to understanding the CEPA’s core concepts and their enforcements.
3. To what extend CEPA will benefit the cooperation between two sides?
CEPA covers three areas of trade liberalization and cooperation between China and Hong Kong. In respect of trade and services, CEPA arranges:
Ø The gradual elimination of tariffs, from January 1 2004, on 273 initial categories of goods, on exporting ‘Hong Kong origin’ goods to China, which meet CEPA’s rule of origin (going to be defined and yet under consultation);
Ø Liberalizing China access for 17 Hong Kong service sectors, including banking, legal service, insurance, freight forwarding, logistic, real estate, construction and related engineering works; and
