Abstract
On June 29th 2003 the Special Administrative Region (SAR) of Hong Kong and mainland China signed a bilateral trade agreement, known by its English acronym as CEPA (Closer Economic Partnership Arrangement). This agreement is made up of three sections: tariff reductions on 273 categories of goods that Hong Kong exports to the People’s Republic of China (PRC); a preferential opening of the Chinese market to Hong Kong service providers in 17 sectors (increased to 18 in September 2003); and a seri...
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