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The Financial Secretary of the Hong Kong Special Administrative Region, Mr Henry Tang, met with the Vice Minister of Commerce of the Central People's Government, Mr An Min, and jointly chaired the first meeting of the Joint Steering Committee of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) in Beijing today (December 17).

This is the first high-level meeting held on CEPA between the two sides following the signing of the six Annexes of CEPA on September 29 this year. At the meeting, the Financial Secretary and the Vice Minister reviewed both sides' preparatory work for the implementation of major liberalisation measures of CEPA on January 1 next year. Both sides are satisfied with the progress and reiterated their determination and confidence in the smooth and effective implementation of CEPA.

On recognition of professional qualifications, both sides are satisfied with the substantial progress made in relation to the construction-related professions, the securities sector and legal services. Both sides agree that mutual recognition of professional qualifications has contributed to the development of professional services and exchange of technical expertise between the two places. The two sides will continue to encourage the relevant regulatory departments and professional bodies to actively study, consult and formulate detailed arrangements for the mutual recognition of professional qualifications.

The two sides, as proposed by the SAR Government, have agreed that senior officials from the two places should convene a meeting by the end of February next year. The meeting, with representatives from major professional bodies, will discuss problems encountered by professionals in launching or expanding their businesses in the Mainland, such as recognition of professional qualifications and entry thresholds.

Besides, the two sides have agreed to adopt a building-block approach to continued consultation on fostering of trade liberalisation, and to incorporate the agreed liberalisation measures in CEPA.

With regard to trade and investment facilitation, both sides recognise its importance in enhancing trade and promoting investment. During the meeting, the two sides exchanged views on the work plans for the coming year for the seven areas of facilitation under CEPA and reached consensus on many aspects. Relevant departments of the two places will follow up the work vigorously.

According to CEPA, the Steering Committee will meet at least once a year, and may convene special meetings as the need arises. Liaison offices will be set up in the Ministry of Commerce of the Central People's Government and the Commerce, Industry and Technology Bureau of the Hong Kong Special Administrative Region Government.

Set up under the Steering Committee, the Meeting on Trade in Goods, the Meeting on Trade in Services, the Meeting on Trade and Investment Facilitation, and the Meeting on Recognition of Professional Qualifications held their respective meetings this morning to discuss matters arising in their particular areas and reported their outcomes to the Steering Committee. Both sides also agreed that the work of the Mainland/HKSAR Joint Commission on Commerce and Trade would be taken up by the Steering Committee in future.

Other HKSAR Government officials attending the meeting of the Steering Committee and the working meetings included the Director of the Beijing Office, Mr Bowen Leung; the Director-General of Trade and Industry, Mr Kevin Ho; and representatives from the Commerce, Industry and Technology Bureau; Environment, Transport and Works Bureau; Financial Services and the Treasury Bureau; Health, Welfare and Food Bureau; Beijing Office; Department of Justice; Customs and Excise Department; Trade and Industry Department; Department of Health, and Electrical and Mechanical Services Department.

Participating Mainland officials included the Director-General of the Department of Taiwan, Hong Kong and Macau Affairs of the Ministry of Commerce, Mr Wang Liaoping; the Director-General of the Department of Exchange and Cooperation, Hong Kong and Macau Affairs Office, Mr Qian Lijun; and representatives from the Ministry of Commerce, Hong Kong and Macau Affairs Office, Ministry of Finance, Customs General Administration, Ministry of Justice, Ministry of Construction, the China Securities Regulatory Commission, State General Administration for Quality Supervision and Inspection and Quarantine, Liaison Office of the Central People's Government in the HKSAR, the China Insurance Regulatory Commission, and Ministry of Health.

Ends/Wednesday, December 17, 2003

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