Supplement VII to the Mainland and Hong Kong Closer Economic Partnership Arrangement

Supplement VII to the Mainland and Hong Kong Closer Economic Partnership Arrangement

May 27, 2010

For the purposes of further enhancing the economic and trade exchanges and cooperation between the Mainland and the Hong Kong Special Administrative Region (hereinafter referred to as Hong Kong), and pursuant to:

The Mainland and Hong Kong Closer Economic Partnership Arrangement concluded on June 29, 2003 (hereinafter referred to as the CEPA) and the Appendices thereto concluded on September 29, 2003;

The Supplement to the CEPA concluded on October 27, 2004;

The Supplement II to the CEPA concluded on October 18, 2005;

The Supplement III to the CEPA concluded on June, 27, 2006;

The Supplement IV to the CEPA concluded on June 29, 2007;

The Supplement V to the CEPA concluded on July 29, 2008; and

The Supplement VI to the CEPA concluded on May 9, 2009,

Both parties have agreed to conclude this Supplement VII on further expanding the field of service trades in the Mainland for Hong Kong, strengthening the financial cooperation and providing facilitation for the trade and investment.

I. Service trades
1. Beginning on January 1, 2011, the Mainland will, on the basis of the commitments on expanding the service trades under the CEPA, the Supplement to the CEPA, the Supplement II to the CEPA, the Supplement III to the CEPA, the Supplement IV to the CEPA, the Supplement V to the CEPA and the Supplement VI to the CEPA, further relax the market entry conditions in fourteen fields, including the construction, medical services, technical testing and analysis and product testing, specialty design, audiovisual services, distribution, banking services, securities, social services, tourism, cultural and entertainment services, air transport, qualification examinations for professionals and technicians, and individual businesses. The detailed contents are provided in the Appendix of this Supplement VII.
2. The Appendix of this Supplement VII shall be a supplement and amendment to Table 1 of Appendix 4 of the CEPA – Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong, Appendix 3 of the Supplement to the CEPA – the Supplements and Amendments to the Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong, Appendix 2 of the Supplement II to the CEPA – the Supplements and Amendments 2 to the Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong, Appendix of the Supplement III to the CEPA – the Supplements and Amendments 3 to the Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong, Appendix of the Supplement IV to the CEPA – Supplements and Amendments 4 to the Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong, Appendix of the Supplement V to the CEPA – the Supplements and Amendments 5 to the Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong, and the Appendix of the Supplement VI to the CEPA – the Supplements and Amendments VI to the Specific Commitments of the Mainland on Expanding the Service Trades for Hong Kong. Where any conflict between this Appendix of this Supplement VII and the provisions of the aforementioned seven documents arises, the provisions of the Appendix of this Supplement VII shall prevail.
3. For the purpose of the Appendix of this Supplement VII, the service providers shall meet the relevant requirements made by Appendix 5 of the CEPA – Definition of the Service Providers and the Relevant Provisions.

II. Financial cooperation
The subsidiaries set up in Hong Kong by the qualified Mainland futures companies are encouraged to process business in Hong Kong in line with law.

III.
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