The Mainland and Hong Kong Economic and Trade Co-operation Committee convened its first meeting in Hong Kong on December 14. The meeting was co-chaired by the Financial Secretary, Mr. Paul Chan, and the China International Trade Representative and Vice Minister of Commerce, Mr. Fu Ziying.

The Committee was established by the Mainland and Hong Kong to enhance economic and trade co-operation. At today's meeting, discussions were held on five work priorities, namely the enhancement and implementation of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), supporting Hong Kong's participation in the Belt and Road Initiative, jointly promoting the economic and trade co-operation of the Guangdong-Hong Kong-Macao Greater Bay Area, supporting Hong Kong's participation in regional economic co-operation and promoting exchanges between both sides on other economic and trade matters.

Mr. Chan said, "The Mainland and Hong Kong have all along maintained close economic and trade relations. Since the signing of CEPA 15 years ago, we have been actively pursuing trade and investment liberalisation and facilitation, which promoted the economic development of both sides. The establishment of the Committee will elevate the co-operation and exchanges between us to a new level, laying a solid foundation for further economic and trade co-operation."

At the meeting, the two sides reached consensus on the working targets for the next phase of liberalisation on trade in services under CEPA. To support Hong Kong's full participation in and contribution to the Belt and Road Initiative, the Mainland and Hong Kong Belt and Road Task Group was established under the Committee to co-ordinate related matters in the trade and economic co-operation areas.

During the meeting, the two sides examined the proposed modus operandi of the Task Group. The Hong Kong side introduced the Hong Kong Special Administrative Region (HKSAR) Government's strategies in promoting participation in the Belt and Road Initiative, and proposed that both sides strengthen co-operation.

After the meetings of the Committee and the Task Group, the Chief Executive, Mrs. Carrie Lam, witnessed the signing of the Agreement of Trade in Goods under the CEPA framework by Mr. Chan and Mr. Fu, who represented the Governments of the two places. The Agreement consolidates and updates the commitments on liberalisation and facilitation of trade in goods under CEPA, further enhancing the level of liberalisation.

Source: The Government of the Hong Kong Special Administrative Region