Chinese mainland to exempt tariffs on all Macao products

The Chinese mainland will exempt trade tariffs on all products made in Macao from 2006, a senior mainland official said here on Friday.

Liao Xiaoqi, deputy minister of China's Ministry of Commerce, made the announcement while talking to media at the conclusion of a one-day meeting with officials of the Macao Special Administrative Region (MSAR).

Liao said after the discussions on the Closer Economic Partnership Arrangement (CEPA), a pact to boost the bilateral economic ties between Macao and the mainland, the two sides signed a supplementary agreement under the CEPA.

Under the agreement, said the official, the mainland will exempt tariffs on all Macao products, except for those being restricted by the Chinese law.

The mainland will also lift entry qualifications of nine service industries, which have been opened up to Macao, according to the agreement.

Since CEPA took effect at the beginning of 2004, the mainland has opened up 26 service industries to Macao.

Liao said the further development of CEPA will provide more business opportunities for both Macao and the mainland.

Source: Xinhua