On 9 October 2024, China (People's Rep.) and Hong Kong signed a second amending agreement to update the closer economic partnership arrangement (CEPA) agreement on trade in services, signed on 27 November 2015 and effective from 1 June 2016, as amended by the 2019 amending agreement. The second amending agreement, signed in Hong Kong, entered into force on the date of signature and will become effective on 1 March 2025.
The 2015 CEPA agreement on trade in services aimed to promote trade liberalization between China (People's Rep.) and Hong Kong. An amendment to this agreement was signed on 21 November 2019, introducing new liberalization measures that took effect on 1 June 2020. The second amending agreement aims to further enhance liberalization and trade facilitation through new liberalization measures. Additionally, the new agreement adds institutional innovation and intensification of collaboration.
Source: IBFD Tax Research Platform News