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Macao companies given wider access to mainland market
公布人:国兴商业 泉源:公司办公室 公布工夫:2009-07-30

Jul. 4, 2007 (China Knowledge) ¨C In a new supplement to the Closer Economic Partnership Arrangement (CEPA) signed with the Macao Special Administrative Region (SAR) government on July 2, the Chinese central government granted Macao-based companies larger access to the mainland market in a new batch of 11 industries.

Under the fourth supplement to the CEPA, the mainland will open 11 additional areas to Macao businesses, including sports, environment, translation and public utilities.

"Opening-ups have been made in sectors with Macao in the industries concerned," Liao Xiaoqi said. Liao, the Vice Minister of China's Ministry of Commerce signed the agreement with Tam Pak-yuen, the economy and finance officer of the Macao SAR government in Macao on Monday.

According to the supplementary, the minimum annual business turnover required for a Macao travel agency which plans to establish a joint venture on the mainland is reduced to US$8 million from US$12 million and for wholly owned enterprises lowered from US$25 million to US$15 million.

Macao travel companies are allowed to expand their Hong Kong and Macao tour businesses from South China's Guangdong Province, the former single pilot project area, to another eight provinces and autonomous regions in mainland.

The amendments are expected to take effect on January 1, 2008.
 

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