China backs Hong Kong status as separate customs territory

China’s Ministry of Commerce has vowed to support Hong Kong’s status as a separate customs territory, enabling the city to sign more free-trade pacts and broaden its partnerships, an official said on Wednesday.

The Hong Kong government and the ministry jointly held a forum to introduce the new agreement under the Closer Economic Partnership Arrangement.

Fan Shijie, director-general of the Department of Taiwan, Hong Kong, and Macao Affairs at the Ministry of Commerce, delivered a speech during the event.

The ministry pledged to implement various preferential measures and strengthen cooperative openness under the agreement, Fan said.

It also supports global investors accessing the mainland market through Hong Kong and encourages more Hong Kong companies to take part in key exhibitions to tap into the mainland market, Fan added.

"The SAR government needs to safeguard free trade and the multilateral trading system, amid rising challenges from unilateralism and protectionism," said Maggie Wong Siu-chu, permanent secretary for commerce and economic development.

The new agreement further expands the scope of openness and lowers the barriers to entry, Fan said.

Hong Kong and mainland China signed the Second Agreement Concerning Amendment to the CEPA Agreement on Trade in Services last October, which will take effect on March 1.

“CEPA serves as a key pillar for economic and trade cooperation between the two regions while providing a pathway for Hong Kong’s deeper integration into the nation’s broader development strategy,” Fan said.

STAFF REPORTER