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Macro-economy

China to promote further opening-up to HK, Macao, MOC

January 11, 2019


Abstract : China is going to promote further opening-up to Hong Kong and Macao, and facilitate cooperation between the Chinese mainland and Hong Kong and Macao, according to the Ministry of Commerce (MOC) on Wednesday.

BEIJING, Jan. 11 (Xinhua) -- China is going to promote further opening-up to Hong Kong and Macao, and facilitate cooperation between the Chinese mainland and Hong Kong and Macao, according to the Ministry of Commerce (MOC) on Wednesday.

The economic cooperation between the Chinese mainland and China's two Special Administrative Regions, Hong Kong and Macao, has entered a new stage in 2018 with a series of measures on boosting mutual beneficial cooperation between Chinese mainland and the two Special Administrative Regions.

The mainland established two economic and trade cooperation committees, respectively, with Hong Kong and Macao, a completion of the economic and trade cooperation mechanism.

In addition, the Chinese mainland signed respective agreements with Hong Kong and Macao on trade in goods under the framework of the Closer Economic Partnership Arrangement (CEPA) in December 2018.

Thanks to the agreements, goods of Hong Kong origin imported into the mainland now enjoy zero tariff through the enhanced arrangement for rules of origin (ROOs), and facilitation measures have been set out in the Guangdong-Hong Kong-Macao Greater Bay Area, including customs clearance expedition, port information sharing, and trade data exchange, in order to deepen the integration of the two Special Administrative Regions into national development. (Edited by Li Wenxin, [email protected])

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