Macau Hub | 1 June 2020
Agreement concerning amendment to mainland and Macao closer economic partnership arrangement (CEPA) agreement on trade in services takes effect
The Agreement Concerning Amendment to the CEPA Agreement on Trade in Services, which was signed on 20 November 2019 in a bid to promote cooperation in the services sector between Macao and mainland China, went into force on 1 June 2020.
Under the amendment, the threshold for Macao enterprises entering the mainland Chinese market will be further relaxed. Industries benefitted from the amendment include the financial sector, legal services, accounting, construction and engineering, culture, tourism, retailing and education.
In addition, the amendment increases Macao’s number of service industries that can enjoy the national treatment in mainland China from 62 to 69, which will give more service providers in Macao a better opportunity to enter the Chinese market.
The amendment has also laid down several pilot schemes to enhance the integration of the services sector in the Guangdong-Hong Kong-Macao Greater Bay Area in a bid to facilitate free trade in services in the Greater Bay Area.
(Macao Economic Bureau)
Government Information Bureau:
https://news.gov.mo/detail/zh-hant/N20EcLPqtz?1 (in Chinese)