| Implement of CEPA for Five Years Benefits Hong Kong Products in Vast Mainland Markets |
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| 2008-07-08 08:00 | | From:MOFCOM Shenzhen Office Article type:Reproduced |
It is five years since Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) was signed. Goods trade duty-reducing products of Hong Kong CEPA expand from 374 eighth-bit-level tax file numbers (2004 tariff) in 2004 to 1503 tax file numbers (2008 tariff) in 2008, which provides vast mainland markets for Hong Kong manufacturing sectors, thus greatly uplifting the competitiveness of Hong Kong products in mainland.
Based on the statistics, in the initial implement stage of CEPA in 2004, benefit goods from CEPA imported from Hong Kong to Mainland fell into 10 sorts and 67 tax file numbers. As of May of 2008, benefit goods had increased to 20 sorts and 337 benefit tax file numbers, respectively up by once and four times. In terms of cargo types, benefit products are mainly food, textile raw materials, costumes and electromechanical ones. Among them, benefit value of Hong Kong quasi-goods, which are the most beneficial products, reached USD710m with benefit taxation RMB 270m. The benefit scope of textiles and clothing is the largest, involving products of 165 tax file numbers, accounting for 49% of the total, and the benefit value amounted to USD220m. |
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