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The Joint Steering Committee of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) will hold its first meeting on Wednesday (December 17) in Beijing.

The meeting will be jointly chaired by the Vice Minister of Commerce, Mr An Min; and the Financial Secretary, Mr Henry Tang.

The Steering Committee, which is responsible for the overall co-ordination of the CEPA, was set up in accordance with Article 19 of CEPA signed on June 29, 2003.

According to Article 19, the functions of the Steering Committee include:

- supervising the implementation of CEPA;

- interpreting the provisions of CEPA;

- resolving disputes that may arise during the implementation of CEPA;

- drafting additions and amendments to the content of CEPA;

- providing guidance on the work of the working groups which may be set up as the need arises; and

- dealing with any other business relating to the implementation of CEPA.

The Steering Committee will meet at least once a year. The two sides will consult to resolve any problems arising from the interpretation or implementation of CEPA in the spirit of friendship and co-operation.

Representatives of the relevant bureaus and departments of the two sides will take part in the Steering Committee meeting and the preceding preparatory meeting.

The Financial Secretary will return to Hong Kong on December 18. During Mr Tang's absence from Hong Kong, the Secretary for Economic Development and Labour, Mr Stephen Ip, will be the Acting Financial Secretary.

Ends/Thursday, December 11, 2003

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