Macao, mainland ink new deal to boost economic ties

Representatives of China's central government and the government of the Macao Special Administrative Region (MSAR) signed a new agreement here on Monday to boost the economic cooperation.

Liao Xiaoqi, Deputy Minister of Commerce, and Tam Pak Yuen, Secretary for Economy and Finance, sealed the third supplementary agreement of the mainland/Macao Closer Economic Partnership Arrangement (CEPA) representing the two sides.

The agreement covers the sections of zero-tax items, the openness of the service industry and the enlargement of investment areas, according to a press release issued by the office of the Secretary for Economy and Finance.

Detailed agreement terms will be announced on Thursday, said the press release.

The CEPA, signed in 2003, is aimed at strengthening the trade relations between the Chinese mainland and the MSAR.

Source: Xinhua