CEPA is a successful practice of the principle of “one country, two systems” and a new path for institutional cooperation between the Mainland and Hong Kong and Macao. It is an important milestone in the economic and trade exchanges and cooperation between the Mainland and Hong Kong and Macao. It is a free trade between our country’s main body and Hong Kong and Macao separate customs zones Agreement, but also the first comprehensive implementation of the Mainland free trade agreement.
CEPA has the nature of a free trade agreement, is the Chinese state and its special administrative region signed between the nature of the free trade agreement economic and trade arrangements, with a clear free trade zone characteristics. From a macro perspective, the basic objectives of CEPA are to gradually eliminate tariff and non-tariff barriers to trade in goods, to gradually liberalize trade in services, to promote trade and investment facilitation, and to improve the level of economic and trade cooperation between the Mainland and Hong Kong and Macao.
CEPA is a high standard of free trade agreements, rich in content and broad in the field. CEPA is the only free trade agreement in the Mainland that has so far been the most comprehensive and open, and is the only free trade agreement in which Hong Kong and Macao are actually involved. Its content is high quality, wide coverage, in a short time to end the negotiations and put into practice for the Mainland to participate in other bilateral free trade area has accumulated a wealth of experience, played a pioneering role.
CEPA is in line with WTO rules and is in line with the principle of “one country, two systems”. CEPA’s liberalization measures in trade in goods and services are in full compliance with WTO rules. After the signing of CEPA, Hong Kong and Macao still maintain its free port status, but also fully follow the “one country, two systems” approach. At the same time, CEPA through the opening measures, and gradually reduce and eliminate the economic and trade exchanges between the two institutional barriers, and promote the free flow of economic factors between the Mainland and Hong Kong and Macao and economic integration, but also in line with the Mainland and Hong Kong and Macao economic and trade development of the actual situation.
CEPA is open. CEPA Article 3 provides that “the two sides will continue to expand through the opening, increase and enrich the content of CEPA.” Since 2004, the two sides in the framework of CEPA has signed a number of supplementary agreements, which is a concrete manifestation of CEPA open.