Closer Economic Partnership Arrangement

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The Closer Economic Partnership Arrangement (CEPA) is an economic agreement between the Hong Kong SAR government and the People's Republic of China central government, signed on June 29, 2003. A similar agreement (also known as CEPA) was signed between the PRC and the Macau SAR governments on October 18, 2003.

The two agreements were signed in the Chinese language, and therefore only the Chinese text is authentic. Excerpts below are translations of the original text.

Objectives

" To strengthen Trade and Investment cooperation between Mainland China and Hong Kong and promote joint development of the two sides, through the implementation of the following measures :

1. progressively reduce or eliminate tariffs and non-tariff barrier on substantially all the trade in goods between the two sides;
2. progressively achieve liberalization of trade in services through reduction or elimination of substantially all discriminatory measures;
3. promote trade and investment facilitation. "

See also

• Economy of the People's Republic of China
• Economy of Hong Kong
• Economy of Macau
• Trade bloc