Chinese mainland to promote CEPA upgrade with Hong Kong: spokesperson

(ECNS) -- China's Ministry of Commerce (MOFCOM) will work with the government of the Hong Kong Special Administrative Region (HKSAR) to promote a new round of upgrade to the Closer Economic Partnership Arrangement (CEPA) between the mainland and Hong Kong, the ministry's spokesperson He Yadong said Thursday.

This year marks the first year of China's 15th Five-Year Plan period (2026-2030). "We will work with the HKSAR government to jointly promote a new round of CEPA upgrade, further deepen economic and trade exchanges and cooperation between the two sides, help Hong Kong consolidate and enhance its status as an international financial, shipping and trade center, and safeguard and promote the city's long-term prosperity and stability," He said.

The spokesperson noted that over the 29 years since Hong Kong's return to the motherland, economic and trade exchanges between the mainland and Hong Kong have continued to deepen. Hong Kong has always been an important trading partner of the mainland, achieving high-quality development while integrating into and serving the country's overall development.

The mainland has fully achieved liberalization of trade in goods with Hong Kong and basically achieved liberalization of trade in services, He said. The two sides have also carried out extensive and practical cooperation in trade and investment facilitation.

The ministry has actively promoted the development of the Guangdong-Hong Kong-Macao Greater Bay Area in the commercial sector and supported Hong Kong's participation in the Belt and Road Initiative and the development of overseas integrated service systems.

(By Tang Yuxian)