China extends sectors covered by CEPA agreement with Macau

30 November 2015

The Close Economic Partnership Agreement (CEPA) between Macau and mainland China has been extended to 153 sectors of trade and services under a document signed Saturday in Macau at the end of the meeting for 2015 of the Joint Steering Committee.

The document extends the scope of CEPA between China and Macau was signed by the Interim Chief Executive, simultaneously Secretary for Economy and Finance, Leong Vai Tac and the Deputy Minister for Trade, Wang Shouwen.

A statement form the office of the secretary for Economy and Finance said, “from 1 June 2016, 153 Macau trade and service sectors will be liberalised within China,” in addition to 20 new measures for facilitation in areas that have already been liberalised.

The aim is gradually to reduce or eliminate “discriminatory measures in trade of substantially existing services between the two parties,” the statement said.

The sectors that will benefit from national treatment include four new liberalised sectors: veterinary services, passenger transport services, services to support road transport and sports services.

In these cases, the statement said, Macau companies will have the same conditions of access to the market as Chinese companies.

Easier access to the market will also be given to 28 sectors including legal services, accounting, construction and banking, among others, and after the implementation of the Agreement 153 Macau service sectors will be liberalised in China, “representing 95.6 percent of the 160 sectors classified according to the criteria of the World Trade Organisation.” (macauhub/CN/MO)