Chinese mainland, HK sign new supplement to CEPA

(Xinhua) 17:56, August 29, 2013

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HONG KONG, Aug. 29 (Xinhua) -- The Chinese central government and the Hong KongSpecial Administrative Region government on Thursday signed a new supplement to aneconomic accord to boost trade and economic cooperation and exchanges.

The supplement to the Mainland and Hong Kong Closer Economic PartnershipArrangement (CEPA), the 10th of its kind, was signed by Vice Minister of Commerce GaoYan and Hong Kong Financial Secretary John Tsang.

Supplement X to CEPA provides 73 measures to liberalize the services sectors andfacilitates trade and investment in those segments.

With the measures in Supplement X, the CEPA now installs 403 liberalization measures fortrade in services.

Regarding financial cooperation, the mainland agreed to actively study mutual recognitionof fund products between the two places, and to actively support qualified Hong Konginsurers to take part in compulsory traffic accident liability insurance business in themainland.

According to the latest survey released by the Securities and Futures Commission, thecombined fund management business in Hong Kong rebounded significantly to a recordhigh of 12.6 trillion HK dollars (about 1.62 trillion U.S. dollars) as of the end of 2012,representing year-on-year growth of 39.3 percent.

（Editor：DuMingming、Liang Jun）

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