Latest research shows the implementation of the Chinese mainland/Hong Kong Closer Economic Partnership Arrangement has brought along nearly 30,000 new job opportunities to Hong Kong and 17,000 to the mainland since January 1, 2004 when the arrangement became effective.

It has also brought 5.5- and 6.7-billion HK dollars of extra investment respectively to Hong Kong and the mainland in service trade.

The central government has adopted many measures to help Hong Kong get rid of its economic dilemma after the Asian financial crisis, reports the overseas edition of People's Daily on September 12.

On June 29, 2003, the central government and the government of the Hong Kong Special Administrative Region signed an agreement on the Chinese mainland/Hong Kong Closer Economic Partnership Arrangement. The agreement contains three contents that will make goods, service and investment trades convenient. The basic aim includes gradually abolishing tariff and non-tariff barriers to goods trade, steadily realizing service trade liberalization, making investment in trade to be convenient so as to boost the trade and economic cooperative ties between the mainland and Hong Kong and achieve common development. The overall application will give a strong momentum to the cooperation between Hong Kong and the mainland and start a new round of cooperative tide.

Due to the implementation of the "arrangement'' and the financial reform of the mainland, many large-sized non-governmental and state-owned enterprises on the mainland are listed on Hong Kong stock market. This will further improve relevant HK service industries, involving securities, banking, accounting and law.

By People's Daily Online