This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
  • Delicious




Construction Sector Benefiting Most From CEPA

by Mary Swire, Tax-News.com, Hong Kong

12 June 2006

The construction sector has benefited the most from the Closer Economic Partnership Arrangement (CEPA) between China and Hong Kong, according to Lo Yiu-ching, Hong Kong's Permanent Secretary for the Environment, Transport & Works.

Speaking at the opening ceremony of a forum on CEPA on Thursday, Mr Lo attributed the encouraging results to the efforts made by the Mainland and Hong Kong Governments and the construction sectors.

In the construction and related engineering services, 23 Hong Kong contractors successfully got Grade A or above qualification certificates to establish their businesses on the Mainland.

In construction engineering design services, another 23 Hong Kong consultant companies got Grade A or B qualification certificates.

"Up until now, mutual recognition agreements of professional qualification have been signed for five professions: real estate appraisers (estate surveyors in Hong Kong); architects; structural engineers; planners; and cost engineers (quantity surveyors in Hong Kong). A total of 1,290 people from the two places have so far obtained their reciprocal professional qualifications," Mr Lo observed.

Professional bodies from both China and Hong Kong are set to continue to discuss mutual recognition for construction supervising engineers, geotechnical engineers, electrical engineers, utility engineers, landscape architects and land surveyors.

However, Mr Lo went on to observe that due to the differences in the systems and business environment between the two sides, the relevant sectors in Hong Kong might not understand fully the policy and implementation of CEPA in detail.

"Today's forum can provide an opportunity for the sectors to express their views on the provisions of CEPA, the market entry requirements and application procedures for qualification certificates as well as the issues relating to mutual recognition of professional qualifications," he explained.

Under the third phase of CEPA, a major bilateral trade liberalisation agreement, the Mainland agreed to give all products of Hong Kong origin tariff free treatment from January 1, 2006, upon application by local manufacturers and upon the CEPA rules of origin (ROOs) being agreed and met.

On trade in services, under CEPA III, there are 23 liberalisation measures spreading across 10 areas, namely legal, accounting, audiovisual, construction, distribution, banking, securities, tourism, transport and individually owned stores.

The Mainland has also agreed to allow Hong Kong legal representative offices to enter into association with Mainland law firms in different cities of the same province; and to allow Hong Kong people practising law on the Mainland to be employed at the same time by a law firm outside the Mainland.

All these measures entered into effect at the start of 2006.

.

 

 






Write a comment