Reaching New Heights:Mainland, Macao sign new CEPA deals on investment

2017-12-19 07:14    Publisher:管理员

      On December 18, 2017, witnessed by the Chief Executive Chui Sai On and Deputy Director of the Liaison Office of the Central People's Government Chen Sixi, Vice Minister of Commerce Gao Yan and Secretary for Economy and Finance of the Macau SAR Liang Weite signed the two agreements on investment as well as economic and technical (Ecotech) cooperation. The new agreements were under the framework of the mainland and Macao Closer Economic Partnership Arrangement (CEPA) and were important to upgrade the content of CEPA. The two agreements came into effect on the day of signing, with that on investment to be implemented from January 1, 2018.
      The two new deals were special economic and trade arrangement under the "one country, two systems" policy, adhering to WTO rules as well. This arrangement promoted trade and investment liberalization and facilitation and reflected the central government's support to Macao's economic development, stability and long-term prosperity.
      According to the investment agreement, the mainland commits to providing more favored treatment to Macao. Negative list will be applicable for investors from Macao. For the non-prohibited investment sectors on the list, an investment permit is necessary. Macao can also enjoy more preferential treatment in compensation for expropriation of investment and dispute settlement system. This agreement contains many new elements and policies, from which the trend of China's future investment agreement can be predicted.
      The agreement on Ecotech specially emphasizes mainland's support to Macao in participating in the B&R Initiative.

Editor:Ziyi Tang

Category: Investment News

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