The Chinese Central People's Government and the Macao Special
Administrative Regional (SAR) government signed on Friday a
supplement to?the Mainland/Macao Closer Economic Partnership
Arrangement (CEPA).
Chinese Vice Minister of Commerce An Min and Secretary for
Economy and Finance of the Macao SAR government Francis Tam Pak
Yuen signed the supplemental agreement and three annexes at the
signing ceremony attended by Chief Executive of the Macao SAR
Edmund Ho Hau Wah.
An official press release of the Macao SAR government said that
the supplemental agreement is aimed to further promote trade and
economic cooperation between the Chinese mainland and the Macao
SAR.
According to the supplemental agreement of the trade pact, an
additional package of 190 products made in Macao will enjoy zero
tariffs for entering the mainland market starting on January 1 of
2005. By that time, the total number of Macao's zero-tariff
products will reach 501.
Meanwhile, Macao companies will enjoy more favorable policies
for entering 11 of the 18 service sectors in China's mainland,
which have already been opened up for companies from the Macao SAR
under CEPA, said the supplemental agreement, adding that eight more
service sectors, including airport management, information
technology and cultural and entertainment services, will be open
for Macao firms.
In addition, individuals from the Macao SAR, who can currently
run their companies in Guangdong
Province according to CEPA, will be permitted to develop their
private enterprises around the country.
(Xinhua News Agency October 30, 2004)