摘要
The Chinese mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA) became effective on Jan. 1, 2004. CEPA covers three areas, namely commodities trade, services trade and trade and investment facilitation. Its basic objective is to phase out tariffs and non-tariff barriers on trade in goods,phase in liberalization of trade in services and promote trade and investment facilitation in an effort to bring about common development by upgrading the economic partnership between the mainland and Hong Kong.
