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Headquarter Address: Baihao Industrial Zone, Houjie Town, Dongguan City, Guangdong Province
Tel：+86 769-85923778 85923738
85878200
Fax：+86769-85924507
Website：http://www.dg-xinghe.com
E-mail：cds@dg-xinghe.com
China's Commerce Minister said they are studying support for Hong Kong's textile industry
Published Time：
2012-11-04
Business Daily reported on July 21 that Hong Kong and China have signed seven Closer Economic Partnership Arrangement (CEPA) agreements, but the implementation of these agreements has encountered numerous problems. During a meeting between Chinese Vice Minister of Commerce, Jiang Zengwei, and a visiting delegation from the Hong Kong General Chamber of Commerce, Jiang stated that the implementation of CEPA has not been ideal, citing issues such as "the main gate is open, but the small gates are closed." He specifically pointed to problems in service trade, where approvals in some areas are "inadequate," requiring urgent reform and promotion. He pledged that the Ministry of Commerce will prioritize the implementation of CEPA in the next one to two years. He also encouraged Hong Kong businesses to enter the mainland Chinese red wine market.
Jiang Zengwei further suggested that the Chinese authorities should conduct in-depth research on how to support Hong Kong's textile industry.
Yesterday, the visiting delegation from the Hong Kong General Chamber of Commerce met with Jiang Zengwei, Vice Minister of Commerce of China, to discuss issues faced by Hong Kong businesses operating in mainland China, including taxation and brand expansion.
He indicated that the seven CEPA agreements cover "all aspects," encompassing trade liberalization and investment facilitation, with extensive and wide-ranging content. However, three areas require improvement in the implementation process.
First, accelerating progress and improving efficiency. He cited examples of discrepancies in understanding service trade in some areas, where the economic benefits of service trade are perceived as slower and less apparent than those of processing trade and physical trade, leading to "inadequate" approvals of CEPA-related systems, low efficiency, and numerous approval procedures.
Second, further strengthening publicity to keep businesses informed and provide channels for communication when problems arise.
Third, selecting several key provinces to pilot the implementation of CEPA, focusing on areas such as logistics and healthcare, to prepare for full-scale implementation.
Jiang Zengwei also analyzed the Chinese mainland consumer market, believing that Hong Kong businesses have significant opportunities in the mid-range consumer market. He noted that China has already established high-end and low-end consumer markets, but the mid-range market remains untapped, presenting significant development opportunities for Hong Kong businesses. Additionally, Hong Kong and mainland China can collaborate to expand into international markets such as Africa, leveraging China's goods, finance, and technology, combined with Hong Kong's networks and influence.
Headquarter Address: Baihao Industrial Zone, Houjie Town, Dongguan City, Guangdong Province
Tel：+86769-85923778 85923738 85878200
Fax：+86769-85924507
Website：http://www.dg-xinghe.com
E-mail：cds@dg-xinghe.com
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