Hong Kong's legal community has welcomed the signing last week of the third stage of the Closer Economic Partnership Agreement (CEPA) between the SAR and the Chinese mainland.
Under the amended CEPA agreement, Hong Kong-based lawyers who pass the Chinese Bar exam will be permitted to continue to practice with their Hong Kong firm, rather than being forced to work in a mainland firm.
Additionally, Hong Kong firms will be able to link up with their Chinese counterparts in different regions. Previously, only law offices in the same city were permitted to join forces.
International firms which have launched Hong Kong enterprises in order to take advantage of CEPA are also reported to have welcomed the increasing liberalisation of the agreement, and are eagerly anticipating a possible fourth version, containing further reforms.
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