CEPA fuels inflow of Hong Kong goods

Home>>Business

Last updated at: (Beijing Time) Friday, April 09, 2004

CEPA fuels inflow of Hong Kong goods

The CEPA carrot finally moved some savvy businessmen in Hong Kong three months after the favorable arrangement took effect on Jan. 1.

DISCUSSION

CHINESE

SEND TO FRIEND

The CEPA carrot finally moved some savvy businessmen in Hong Kong three months after the favorable arrangement took effect on Jan. 1.

According to customs statistics, 99 certificates of origin of Hong Kong were signed off in January, 136 in February and 300 in March, amounting to a total of HK$237 million.

By March 31, 378 shipments of the Hong-Kong-made goods had passed customs clearance, involving a total value of HK$172 million, the local customs said.

The imported commodities include food, drugs, chemicals, textiles, jewelry, metal products, electronics, timepieces and toys.

Analysts said the increased flow of Hong Kong goods indicated the confidence held by Hong Kong industries in CEPA's positive prospects.

"It is just a beginning," said Wang Gang, a customs officer with the certificate-of-origin management office, "CEPA will obviously increase the trade and economic exchanges between Hong Kong and the Chinese Mainland."

In another development, the certificate-of-origin management office in Shenzhen has found woolen blouses and T-shirts allegedly made in Fujian among the CEPA goods.

Under the CEPA framework, only Hong Kong-made goods are eligible for duty exemptions The office is working with customs in Hong Kong to investigate the case. It's the first fraud detected since CEPA took effect.

Source: Xinhua

Questions?Comments? Click here

First zero tariff HK goods under CEPA shipped to mainland

HK's exports grow 12 pct in November

Tariff-free HK goods arrive in Beijing

China tries to break Boeing, Airbus domination with self-made aircraft ( 6 Messages)

Will "Section 301" affect Chinese economy? ( 2 Messages)

Taiwanese businessmen further expand investment in Chinese mainland ( 2 Messages)

Japanese court rules PM's shrine visit "unconstitutional" ( 12 Messages)

China urges US to honor promise on Taiwan issue ( 4 Messages)

How the US could improve its image abroad ( 202 Messages)