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Supplement VI to Mainland and Hong Kong Closer Economic Partnership Arrangement
Promulgation Date:2009-05-09  Promulgation Number:  Promulgation Department:Ministry of Commerce

Supplement VI to Mainland and Hong Kong Closer Economic Partnership Arrangement

 

For the purpose of promoting the level of economic and trade exchanges and cooperation between the Mainland [1] and the Hong Kong Special Administrative Region (hereinafter referred to as “Hong Kong”), and in accordance with:

The Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter referred to as “CEPA”) signed on 29 June 2003 and its Annexes signed on 29 September 2003;

The Supplement to the Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter referred to as “Supplement to the CEPA”) signed on 27 October 2004;

The Supplement II to the Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter referred to as “Supplement II to the CEPA”) signed on 18 October 2005;

The Supplement III to the Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter referred to as “Supplement III to the CEPA”) signed on 27 June 2006;

The Supplement IV to the Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter referred to as “Supplement IV to the CEPA”) signed on 29 June 2007;

The Supplement V to the Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter referred to as “Supplement V to the CEPA”) signed on 29 July 2008;

the two sides agreed to sign this Supplement VI on further liberalization of trade in services in the Mainland for Hong Kong, strengthening cooperation in the area of finance and promoting mutual recognition of professional qualifications.

I.                Trade in Services

1.  From 1 October 2009, the Mainland shall further relax the market access conditions in 20 areas, namely, legal, construction, medical, research and development services, real estate, placement and supply services of personnel, printing, convention and exhibition, public utility, telecommunications, audiovisual, distribution, banking, securities, tourism, cultural, maritime transport, air transport, rail transport and individually owned stores on the basis of the commitments on liberalization of trade in services under “CEPA”, “Supplement to the CEPA”, “Supplement II to the CEPA”, “Supplement III to the CEPA”, “Supplement IV to the CEPA” and “Supplement V to the CEPA”.  The specific contents are detailed in the Annex of this Supplement VI.

 

2.  The Annex of this Supplement VI is a supplement and amendment to Table 1 of Annex 4 of “CEPA” – “The Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong”, Annex 3 of “Supplement to the CEPA”- “Supplements and Amendments to the Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong”, Annex 2 of “Supplement II to the CEPA”- “Supplements and Amendments II to the Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong”, Annex of “Supplement III to the CEPA” - “Supplements and Amendments III to the Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong”, Annex of “Supplement IV to the CEPA” - “Supplements and Amendments IV to the Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong” and Annex of “Supplement V to the CEPA” - “Supplements and Amendments V to the Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong”.  In the event of conflict with the provisions of the other six instruments, the provisions of the Annex of this Supplement VI shall prevail.

3.  “Service suppliers” as referred to in the Annex of this Supplement VI shall meet the relevant requirements of Annex 5 of “CEPA” – “Definition of “Service Supplier” and Related Requirements”. 

II.   Financial Cooperation

The two sides will adopt the following measures to further strengthen cooperation in the area of finance:

(1)    The Mainland shall allow qualified Mainland securities companies approved by the China Securities Regulatory Commission to set up subsidiaries in Hong Kong in accordance with the relevant requirements.

(2)    To actively explore the introduction of ETF (open-end index-tracking exchange-traded fund), which portfolios are constituted by Hong Kong listed stock, in the Mainland.

III.  Mutual Recognition of Professional Qualifications

1.  Taxation

To allow Hong Kong residents who have formally become members of the Hong Kong Institute of Certified Public Accountants on or before 31 March 2009 to be exempted from the "Finance and Accounting" paper when sitting for Mainland's Certified Tax Agent qualification examination.

2.  Construction Sector

(1)    The two sides agree to take forward the work on mutual recognition of professional qualifications (supervision engineering) between Supervision Engineers of the Mainland and Building Engineers of Hong Kong and recognition of Hong Kong Architects for obtaining qualification of Supervision Engineers of the Mainland.

(2)    Competent authorities or professional bodies of both sides will take forward the technical exchanges of landscape architectural professionals between the two sides.

3.  Real Estate Sector

(1)    The two sides agree to take forward the work on mutual recognition of professional qualifications between estate agents of the Mainland and Hong Kong.

(2)    Competent authorities or professional bodies of both sides will start technical exchanges on mutual recognition of qualifications of Certified Property Managers and members of the Hong Kong Institute of Housing.

4.     Printing Sector

The responsible authorities or industry bodies of both sides will start technical exchanges of printing industry practitioners between the two sides.

IV.   Annex

The Annex to this Supplement VI forms an integral part of this Supplement VI.

V.    Effectiveness

This Supplement VI shall come into effect on the day of signature by the representatives of the two sides.

    Signed in duplicate in Hong Kong, this 9th day of May, 2009 in the Chinese language.

 

 People’s Republic of China                  People’s Republic of China

Vice Minister of the Ministry of Commerce  Financial Secretary of Hong Kong SAR      

 Jiang Zengwei                              John Tsang

(Signature)                                (Signature)

 

Annex:

Supplement and Amendment VI to the Mainland’s Specific Commitments on Liberalization of Trade in Services for Hong Kong[2]

 

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