The EPA, the bilateral free trade agreement between Hong Kong and mainland China, came into force on 1 January 2004. The agreement allows local and international companies with qualified hong Kong-based companies to enter the market at an early stage, regardless of nationality or size. Even if China meets its World Trade Organization (WTO) commitments, many Hong Kong companies will retain a lasting advantage, as the EPA offers even greater concessions than China`s commitments when it joined the WTO. The EPA is a win-win agreement that opens up new business opportunities for the mainland, Hong Kong and all foreign investors. For Hong Kong, THE EPA offers Hong Kong businesses the opportunity to have better access to the mainland. The EPA also benefits the continent, as Hong Kong serves as the perfect “springboard” for continental companies to reach the global market and accelerate the continent`s full integration into the global economy. Foreign investors are also welcome to set up businesses in Hong Kong to take advantage of the benefits of the EPA and jointly seize the great opportunities offered by the continental market. The Closer Economic Partnership Agreement on the mainland and in Hong Kong is the first free trade agreement ever concluded by mainland China and Hong Kong. The main text of the EPA was signed on 29 June 2003.
In November 2008, Chile and Indonesia decided to establish a joint task force on the benefits of a bilateral free trade agreement. The final report was finalized in November 2009. Trade in services – Hong Kong service providers receive preferential treatment when entering the continental market in different service sectors. Hong Kong professional organizations and continental regulators have also signed a number of agreements or agreements for mutual recognition of professional qualifications. The EPA is a framework agreement based on four agreements: on 11 August 2020, Chile and Indonesia commemorate the year the Chile-Indonesia Free Trade Agreement came into force. The following agreement amending the CEPA agreement on trade in services was implemented on 1 June 2020. 273 classes of goods from Hong Kong can be exported to the mainland duty-free. In addition, for other categories of “Made in Hong Kong” products, the continental continent agreed to apply a zero import tariff from 1 January 2006, when local producers requested other product codes that are kept in the Chinese customs system and comply with THE EPA`s rules of origin. HKSAR undertakes to apply it to the import of all products on the continent and not to impose restrictive rules for trade in these products. Rules of origin: a product is classified as “made in Hong Kong” if it fulfils the rules of origin of the EPA. Local investors in Hong Kong, mainland China and overseas can create new production sites in Hong Kong, so that products subject to high tariffs on the mainland are eligible for EPA rules of origin and do not benefit from mainland tariffs.
Investors can manufacture high-intellectual property in Hong Kong, using their legal system and intellectual property system protection. A Hong Kong manufacturer should apply for a Certificate from Hong Kong (CEPA) and hand over the authorized certificate to the continental importer. To be considered under the EPA, products must comply with the rules of origin (ROO) provided by the EPA in order for the product to be considered a tariff preference. The ROO has defined the criteria and standards of a product in order to recover from a given country of origin.