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The progress of the Mainland and Hong Kong Closer Economic Partnership Arrangement (hereinafter called "CEPA") has been smooth since its full implementation from 1 January 2004. "CEPA" has played a positive role in raising the level of economic and trade exchanges and cooperation between the Mainland and the Hong Kong Special Administrative Region, and in enhancing economic development of the two places. Pursuant to the provisions of Articles 3.2 and 19.3 of "CEPA", the Mainland and the Hong Kong Special Administrative Region launched consultations on further liberalization under the framework of "CEPA" on 20 May 2004. After several rounds of thorough exchanges and consultations, the two sides reached consensus in the High Level Meeting of the Joint Steering Committee of "CEPA" held on 27 August 2004 on the second batch of goods of Hong Kong origin to which the Mainland will apply zero tariff and on the main contents of liberalization and further relaxation of market access conditions in the Mainland for services and service suppliers of Hong Kong, and agreed to record such consensus as follows: 1. Trade in Goods (1) The Mainland agreed to apply zero tariff to the second batch of 713 goods (Mainland 2004 tariff codes, and likewise hereinafter) of Hong Kong origin from 1 January 2005. The description and tariff codes of the goods are detailed in Annex 1 of this Record. Together with the 374 goods which have already been subject to zero tariff since 1 January 2004, the total number of goods of Hong Kong origin which the Mainland committed to apply zero tariff will have reached 1087. (2) The two sides will complete the consultations on the rules of origin of the above goods before 1 October 2004. (3) Pursuant to the procedures prescribed by "CEPA", the two sides will add the description, tariff codes and the rules of origin of the second batch of goods of Hong Kong origin which will be subject to zero tariff to respectively Table 1 of Annex 1 of "CEPA" - "List of Hong Kong Origin Products for Implementation of Zero Import Tariff by the Mainland" and Table 1 of Annex 2 of "CEPA" - "Schedule on Rules of Origin of Hong Kong Goods Subject to Tariff Preference for Trade in Goods ". 2. Trade in Services (1) The Mainland agreed to further relax the market access conditions for services and service suppliers of Hong Kong in eleven areas - legal, accounting, medical, audiovisual, construction, distribution, banking, securities, transport, freight forwarding agency and individually owned stores, on the basis of Annex 4 of "CEPA" - "Specific Commitments on Liberalization of Trade in Services" signed on 29 September 2003. Specific contents are detailed in Annex 2 of this Record. (2) The Mainland agreed to liberalize and relax the market access conditions for services and service suppliers of Hong Kong in eight areas - patent agency, trade mark agency, airport services, cultural entertainment, information technology, job referral agency, job intermediary, and professional qualification examinations. Specific contents are detailed in Annex 2 of this Record. (3) Except for commitments made in the area of construction and part of the commitments made in the area of distribution which will be implemented with effect from the day after the signing of this Record, the commitments on liberalization stated in Annex 2 of this Record will be implemented with effect from 1 January 2005. (4) "Service suppliers" referred to in Annex 2 of this Record should meet the relevant requirements of Annex 5 of "CEPA", unless otherwise stated in Annex 2 of this Record. 3. The two sides will complete the amendments and additions to the relevant Annexes of "CEPA" and sign the relevant texts before 1 December 2004. 4. This Record was signed in duplicate in the Chinese language.
Vice Minister of Commerce Financial Secretary People's Republic of China Hong Kong Special Administrative
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