China
CEPA boosting Hong Kong´s economic prosperity
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Source: CCTV.com | 06-28-2007 14:34
Special Report: HK 10 Years |
In 2003, the Chinese Mainland and Hong Kong signed the Closer Economic Partnership Arrangement. The partnership has acted as an impetus for trade, job creation, investment and tourism. CCTV reporter Zhang Lu interviewed local business leaders to find out what changes the arrangement has brought to Hong Kong.
Pharmaceuticals play a major role in Hong Kong's manufacturing sector. The industry relies heavily on the Mainland market. Nin Jiom was the first to benefit from CEPA.
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Gustav Chan, general manager Nin Jiom Medicine MFG. (HK), LTD., said, "We are very lucky to get the first CEPA certificate. You see the No. is 00001, Nin Jiom, Pipagao (introduction) We believed the CEPA agreement will help us open the door of the China market and this in fact proved to be true. From then, our growth in the Mainland was double digit, very successful."
The certificate of Hong Kong origin means Nin Jiom pays no tariff on exports to the Mainland. According to the Hong Kong SAR government, more than 23,000 such certificates had been issued by the end of May.
In three years, exports to the Mainland have involved over 8 billion Hong Kong dollars.
