New CEPA amendment facilitates HK firms' access to mainland market, says Paul Chan

Financial Secretary Paul Chan Mo-po said local businesses and professionals will find it more convenient to expand into the mainland market, as the central government has agreed to further open up to Hong Kong in trade in services.

His remarks came after the signing of the "Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services" on Wednesday.

The amendment included reduced threshold and qualification requirements across several service sectors in the city such as financial services, construction and related engineering services, telecommunications, television and tourism services, etc. 

Chan said the measures under the CEPA amendment agreement will encourage local firms and professionals to expand their foothold into the motherland. 

Witnessing the signing of the agreement, Chief Executive John Lee Ka-chiu stated that the SAR government will continue to encourage different sectors to join hands with counterparts on the mainland to promote the competitiveness of the professional services sector, to inject new impetus to economic development and achieve high-quality development.