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1st Ld-Writethru: HK, Macao service providers to enjoy easier market access in Guangdong

Xinhua, March 10, 2015 Adjust font size:

South China's Guangdong Province will further facilitate market access for service providers from Hong Kong and Macao, the State Council, or the cabinet, announced on Tuesday.

Local authorities in Guangdong are required to make adjustments to regulations on administrative approval in order to boost service trade liberalization for investors from Hong Kong and Macao, according to a decision released by the State Council.

Businesses owned by Hong Kong and Macao investors will no longer be treated as foreign companies whose establishment or business conversion usually need to undergo examination and approval procedures, it said.

According to the decision, Guangdong will further open the local services industry to investors from Hong Kong and Macao under the Closer Economic Partnership Arrangement (CEPA).

Adjustment is required for rules that regulate industries of telecommunications, joint school operation, sea transportation, entertainment, video gaming and civil aviation.

In December, Chinese mainland signed with Hong Kong and Macao new trade deals, which are under the framework of CEPA, respectively, in a bid to promote liberalization in service trade. Under the deals, Hong Kong and Macao enterprises will face the same conditions as mainland companies.

Tuesday's decision was released to ensure the deals would be carried out smoothly.

The mainland signed the CEPA with Hong Kong and Macao in 2003 to forge closer ties. Endi